NBR facing another stumbling block in revenue collection

Syed Nasir Hossain: National Board of Revenue (NBR) stumbles again in revenue collection. In the first 4 months (July-October) of the current fiscal year 2023-24, the revenue collection is less than the target by about Tk 20 thousand crore. The revenue target for 4 months was Tk 1 lakh 23 thousand 185 crore.
Against this, the income was Tk 1 lakh 3 thousand 976 crores. This information is known from NBR sources.
According to NBR sources, the calculation of sector-wise revenue income is Tk 32,668 crores from import and export duty sector in 4 months, Tk 40,048.62 crores from Musak at local level and Tk 31,259 crores from income tax and travel tax sector. However, the revenue is slightly behind the target at this time. The revenue target for 4 months was Tk 1 lakh 23 thousand 185 crore.
According to NBR data, the revenue from import-export duties in the first 4 months of last 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. Income tax revenue increased to Tk 31,259 crore from Tk 26,784 crore in 4 months of last fiscal year. 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 4 months of the last fiscal year, the amount of 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.