The National Board of Revenue (NBR) exceeded the revenue collection target for the outgoing fiscal year 2016-17 as it collected Taka 1,08,571 crore, up Taka 71 crore from the revised target of Taka 1,85,000 crore.
"This figure of revenue collection is temporary. The final revenue collection figure will be available when we will receive report separately on the collection of Income Tax, Value Added Tax (VAT) and duty on July 25," said Belal Chowdhury, director general of research and statistics department of NBR.
NBR in its facebook page said the revenue authorities have been able to achieve the revenue collection target for FY17, the third consecutive fiscal year. The NBR officials could have been shown more better performance if they could not have remained busy for taking preparation in implementation of new VAT law, it added.
It said the revenue collection could have been higher if the outstanding revenue of Taka 23,000 crore of Petrobangla would have been cleared.
Besides, NBR waived taxes amounting to Taka 40,000 crore of different government establishments and the banking sector witnessed a 14 percent negative growth in the outgoing fiscal, said the NBR.
NBR thanked all taxpayers for extending cooperation for achieving its revenue collection target for FY17.