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The overall revenue collection by the National Board of Revenue (NBR) during the July-April period of the current fiscal year (FY22) has witnessed a healthy growth of 15.21 per cent totalling Tk 2,27,641.24 crore.
During the first 10 months of the last fiscal year (FY21), the revenue collection totalled at Tk 1,97,583.52 crore.
Analysing the sector-wise revenue collection scenario of the July-April period in FY22, it was found that Tk 73,060.26 crore came from the customs duty, Tk 84,895.21 crore came from the VAT while Tk 69,685.77 crore came from the income tax and travel tax.
The revenue collection of the NBR is, however, lower than the 10-month target of Tk 2,60,031.75 crore.
Talking to BSS, NBR member Abdul Mannan Shikder said that positive changes have been evident into the mindset of the businessmen and individual taxpayers compared to the past as they are becoming compliant every now and then.
“Side by side, the field-level tax officials are strengthening their monitoring system. Considering all these things, there has been a positive growth in revenue collection,” he added.
Mannan also said that increase of revenue collection in income tax and VAT indicates the improvement of good governance in the country.
The NBR has been giving due importance in checking tax evasion in the customs system, side by side, the businessmen are now much more compliant since they have taken VAT registration online and thus paying VAT, he mentioned.
On the other hand, it has been possible to bring the maximum number of people under the tax net in case of direct tax.
The senior NBR member also said that the revenue collection would be much better at the end of this month and the next month.
According to NBR, the revenue collection from customs during the first 10 months of the last fiscal year totalled Tk 61,131.63 crore which has increased by 19.51 per cent to Tk 73,060.26 crore.
The revenue collection from income tax during the same period in FY21 was Tk 59,670.21 crore, which has seen 16.78 per cent growth in FY22.
The revenue collection from VAT witnessed a healthy 10.57 per cent growth during the 10-month period in FY22 fetching Tk 84,895.21 crore compared to Tk 76,781.68 crore bagged during the same period of the last fiscal year.
