Tuesday, 5 July, 2022
E-paper

NBR may miss revenue target Tk 3.30 trillion this year too

The National Board of Revenue (NBR) may miss the fiscal revenue collection target as about half of the revenue collection is yet to be done with only four months left of the current financial year.

Latest NBR data shows that the revenue board has collected Tk1.76 lakh crore in eight months July-February period. It means that Tk 1.53 lakh crore of revenue collection still remaining and the board is far from FY2021-22 revenue collection target of Tk 3.30 lakh crore.

The official documents showed that the revenue board has to collect Tk38,385 crore in each month in the remaining four months (March-June) which is quite impossible and not happened earlier, the NBR data shows.

The NBR has submitted a revised revenue collection plan with a target ofTk 3.05 lakh crore to reduce the gap between the target and achievement at the end of the fiscal year.

If the ministry of finance approves the revised revenue collection plan, the revenue board has to collect Tk 32,000 crore per month on an average in the remaining (March-June) period.

Despite 10.65 percent growth in revenue collection so far, the NBR may fail to reach the top of the target.

The revenue collection has jumped to Tk2.66 lakh crore in last FY2020-21) in place of the target of Tk3.30 crore that later was revised to Tk 3.0 lakh crore.

The NBR collects revenue in the form of income tax, travel tax, customs duty; value added tax, supplementary duty (SD) and excise duty.