In the first 7 months of the current fiscal year, the National Board of Revenue (NBR) has collected 46% of the target customs tax. To meet this year’s target, Tk 36,000 crores in taxes will have to be collected in the remaining months of the year. This much revenue has never before been collected every month. In the last 7 months, on average, about Tk 22,000 crores have been collected. This year, the target is to collect Tk 3 lacs and 30 thousand crores.
In such a situation, NBR’s revenue collection target is being reduced to around Tk 25,000 crores. In the current fiscal year, the revised target of NBR revenue collection may be Tk 3 lacs and 5 thousand crores. The final decision will be taken in consultation with the Ministry of Finance.
It has not been possible to collect revenue at the desired rate due to COVID-19’s second wave and instability in global trade. So there is no alternative but to adjust the target.
In the first 7 months of the current fiscal year (July-January) a total of Tk 1 lac 53 thousand and 439 crores has been collected. There has been a 16.12% growth in revenue collection. Although there was no momentum in revenue collection at the beginning of the fiscal year, it is increasing now. Only Tk 15,000 crores were collected in July. In January, it increased to Tk 24,000 crores.
The highest collection in the last seven months has been from VAT at the local level. Revenue collection from this sector has been Tk 57 thousand 973 crores. Then from the import sector, Tk 48 thousand 727 crores have been collected. Tk 46 thousand 769 crores have been collected from the income tax and travel sectors.
