Revenue deficit stood over Tk 19,209 cr

Staff Correspondent: The revenue target was not achieved in the first four months (July-October) of the current fiscal year 2023-24. At this time the deficit amount is Tk 19,209 crores. The revenue target for four months was Tk 1 lakh 23 thousand 185 crore. In contrast, the National Board of Revenue (NBR) collected a total revenue of Tk 103,976 crore.
However, in these four months, compared to the same period of the previous fiscal year, the growth is 14.36 percent. The revenue in the first seven months of the last fiscal year was Tk 90,918 crore.
According to NBR sources, in four months, the income from the import and export duty sector was Tk 32,668 crores, Tk 40,048.62 crores from VAT at the local level and Tk 31,259 crores from the income tax and travel tax sector.
According to NBR data, the revenue from import-export duties in the first four months of the fiscal year 2022-23 was Tk 29,937 crore. In the same period of the current fiscal year, it has increased to Tk 32,661 crores. In this case, the growth is 9.12 percent.
Income tax collection increased by 16.71 percent during the discussion period. In the four months of the last fiscal year, the income tax has increased to Tk 31,259 crore from the income tax of Tk 26,784 crore. Good growth has been achieved in VAT revenue as well as duties and income tax. In this case, there has been a growth of 17.11 percent. In the four months of last fiscal year, VAT revenue was Tk 40,048.62 crore.
It should be noted that the target of NBR’s revenue in the current fiscal year is Tk 430,000 crore.