The National Board of Revenue on Tuesday said its revenue collection in fiscal year 2010-2011 exceeded the revised collection target by nearly Tk 3,090 crore.
The NBR's provisional data for the fiscal year shows the board collected Tk 78,691.83 crore in duties and taxes against its revised target of Tk 75,600 crore.
Although the board had initially set its revenue collection target at Tk 72,590 crore for FY2010-11, it revised the target upward in the second half of the fiscal year after seeing a robust growth in revenue collection.
'The revenue collection had made new records for the last two consecutive fiscal years. It is a rare case,' NBR chairman Nasiruddin Ahmed told a press meet held on Tuesday at the NBR headquarters in the city to release the provisional revenue data.
He said such a growth in revenue collection was possible because of the 'democratic environment', efforts of the collectors at fields, and the automation of revenue activities.
He said the NBR would collect more revenue this fiscal year as it was expanding the tax administration.
The revenue collection target for the NBR has been set at Tk 91,870 crore for the current fiscal year.
According to the NBR's provisional data, the overall revenue collection had grown by 26.84 per cent, income tax collection by 33.89 per cent, value-added tax collection by 26.80 per cent, and customs duty collection by 21.93 per cent in the last fiscal year.
The income tax collection had posted a year-on-year increase of around Tk 713 crore, VAT collection Tk 1,120 crore, and customs duty collection Tk 1,328 crore.
In FY2010-11, the board collected Tk 22,817 crore in income tax against a target of Tk 22,105 crore, Tk 27,602 crore in VAT against a target of Tk 26,483 crore, and Tk 27,862 crore in customs duty against a target of Tk 26,535 crore.
Source : New Age
