NBR misses revenue collection target by Tk 200bn

senior correspondent, barta24.com
NBR chairman Md Mosharraf Hossain Bhuiyan

NBR chairman Md Mosharraf Hossain Bhuiyan

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The National Board of Revenue (NBR) has collected Tk 651 billion in revenue in the first four months of the current fiscal year – Tk 200 billion less than the target for the period, the NBR chairman has said.

Speaking at a press conference on Sunday (Dec 8) in the capital, Md Mosharraf Hossain Bhuiyan said the revenue collection in the July-October period was, however, 4 percent higher than the same previous period.

‘Tk 620 billion was collected in revenue in the July-Oct period of last fiscal year. A 4 percent growth was recorded in customs duty, 8.66 percent in VAT and 11.46 percent in income tax collection’ he said.

NBR convened the press meet to make the media aware of different aspects of the celebration of the National VAT Day on Dec 10 and VAT Week from Dec 10 to 15.

The NBR chief said Tk 2.2 trillion was collected in revenue in the 2018-19 FY, which include Tk 788 billion VAT, while the target for the current FY has been fixed at Tk 3.26 trillion, including Tk 1.18 trillion VAT.

He expressed the hope that they will be able to reach the revenue collection target at the end of the fiscal year. Mosharraf said Bangladesh has attained self-sufficiency in food production. ‘A crisis of onion is going on, but next year the farmers can flood the market with locally-grown onions. There will be no more crisis.’