In the first seven months of the current fiscal year (July-January), the National Board of Revenue (NBR) received revenue of Tk 1 lakh 53 thousand and 439 crores. This revenue is 46.49% of the total target. Although the target was not met, NBR has collected 16% more revenue as compared to the same period of the previous fiscal year.
In the budget of the current fiscal year, NBR has been given a target of collecting a revenue of Tk 3 lacs and 30 thousand crores. In the first seven months of the last fiscal year, Tk 1 lac 32 thousand and 133 crores were collected
The highest revenue collection during the July-January period was in the VAT sector at the local level. The revenue collection in this sector was Tk 51 thousand and 422 crores. The growth in this sector has been 12.68%. On the other hand, the highest increase in revenue collection was at the import level at 22.45%. Tk 48 thousand and 727 crores have been collected from this sector. Besides, a revenue of Tk 6 thousand and 407 crores came from income tax or direct tax sector. Income tax has increased by 13.81%. The NBR received Tk 361 crores as travel tax, which is 156% more than the previous year.
The effects of the Russia-Ukraine war, after the last variant of COVID-19 Omicron, are once again slowing down the world economy. However, trade and commerce in Bangladesh are still normal. There is a positive trend in exports. Imports are also increasing. Investments are being made. The growth of private sector loans has increased. In such a situation, NBR is hopeful of achieving the target of revenue collection in the current fiscal year.
