Revenue up in First Four Months of Fiscal
Monday, 29 November 2010

Revenue collection in the first four month of the current fiscal (2009-2010) was up by 25.74 percent, in comparison to last year.

Moreover, 109.26 percent of the revenue target was achieved.

The figures were revealed in a National Board of Revenue (NBR) press conference, by NBR chairman Nasiruddin Ahmed on Monday.

"Revenue collections stood at Tk 212.3 billion against the target of TK 194.3 billion in the first four months. We are hoping to exceed the target with our collections at the end of the year," he said.

The chairman pointed out that collections from the value added tax (VAT) category saw the highest increase within the period, with Tk 81.2 billion against a target of 71.9 billion.

The growth was 31.8 percent while the category's achievement rate was 112.91 percent.

Meanwhile, the growth in collections from income tax was 29.29 percent.

A revenue of Tk 47.70 billion was collected in the form of income taxes against the target of Tk 43.19 billion. The rate of target achievement stood at 110.46 percent.

Import and export sectors were on the third tier for revenue collected, with Tk 82.05 billion earned against a target of Tk 77.68 billion. The growth was 19.12 percent and the achievement rate was 105.26 percent.

Growth of revenue collection in the others category was 9.14 percent and 87.98 percent of the target was achieved.

The NBR chairman also said that work to update the income tax ordinance and VAT laws, in a bid to increase revenue collection, has already started.

The laws will be finalised by January, he added.


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