More than Tk 1.5 lac crores of revenue has to be collected in the last four months of the current fiscal year (March-June). In the current fiscal year, the National Board of Revenue (NBR) will have to collect a total of Tk 3 lacs and 30 thousand crores in customs and taxes. But in the first eight months (July-February) Tk 1 lac 76 thousand and 458 crores has been collected. Tk 1 lac 53 thousand and 542 crores are required to achieve the target. On average, every month, Tk 38 thousand and 385 crores worth of import taxes, VAT, supplementary duty, advance tax and various other types of taxes have to be collected. This calculation has been obtained from the latest information from the Board of Revenue.
Meanwhile, due to the desired revenue not being collected, steps have been taken to reduce the target of NBR. The revised target of NBR may be Tk 3 lacs and 5 thousand crores. In that case, an average of Tk 32,000 crores has to be collected every month for the last four months. The NBR has never been able to collect so much in one month.
As a result of the increase in prices and taxes of imported goods in the international market, the collection of duty and tax at the import level has increased.
NBR collects various types of duties and taxes at the import and local level. In addition, income tax is now a big source of revenue. According to NBR sources, the highest revenue was collected from VAT and supplementary duty at the local level from July-February. Tk 66 thousand and 374 crores have been collected from this sector. Tk 59 thousand and 986 crores were collected from this sector at the same time last time. The growth in this sector has been 10.65%.
It is followed by import duty, supplementary duty, and export duty. In this sector, Tk 56 thousand and 776 crores have been collected in eight months, which is Tk 10 thousand crores more than the same period of the previous year. The growth in this sector is about 23%. Tk 53 thousand and 308 crores have been collected from the direct tax sector including income tax. The growth in this sector is about 14%. However, after the COVID-19 crisis, travel is about to become normal. Therefore, the collection of travel tax has increased by 141%. Tk 453 crores have been collected from this sector so far.
