VAT collection witnesses 30pc growth in Feb

13 March, 2018 12:00 AM printer

Revenue collection under the Large Taxpayer Unit (LTU) of Value Added Tax (VAT) witnessed a 30 percent growth in February this year as the unit collected Tk 3,563 crore, up Tk 822.67 crore from February last year.

During the first eight months (July-February) of current fiscal year (2017-18), LTU collected a total of Tk 18,272.59 crore, up by 19 percent from Tk 17,229.36 crore during the same period in FY17, reports BSS.

VAT LTU Commissioner Md Matiur Rahman said the unit achieved the growth in revenue collection because it has taken a time-befitting strategy and intensified the supervision, VAT auditing and recovery of arrears.

He said the LTU realised a significant amount of outstanding VAT from Petrobangla, mobile-phone operators and other establishments.

Rahman said different establishments get tax waiver from the National Board of Revenue (NBR) but some others are dodging tax on various excuses.