• Monday, Jul 04, 2022
  • Last Update : 04:24 pm

NBR to see 11% cut in revenue collection target

  • Published at 12:38 am March 19th, 2017
  • Last updated at 12:40 am March 19th, 2017
NBR to see 11% cut in revenue collection target
The government can slash the NBR revenue collection target by Tk23,000 crore or 11% this fiscal year, said official sources. The revenue collection target by the National Board of Revenue for the fiscal year 2016-17 is Tk2,03,152 crore. The new target is likely to be Tk1,83,152 crore, said a Finance Division official. The slashing of target is likely due to shortage in value-added tax and income tax collections. The amount was approved at the National Economic Council meeting recently. The meeting was held on the revised Annual Development Programme (ADP) with Prime Minister Sheikh Hasina in the chair. “Finance ministry will definitely be glad if the NBR can collect Tk1,70,000 crore at the end of the fiscal year,” said the finance division official. In the pre-budget meeting, Finance Minister AMA Muhith said he was not “satisfied with the NBR collection.” “The NBR should do better to achieve the target.” As per the data by the Controller General of Accounts, the tax revenue collection was Tk76,009 crore or 37.41% of total budget estimate during the first six months of the current fiscal year, which is better than last year’s. Last year the NBR collection was Tk67,659 crore. According to the Office of the Controller General of Accounts data, only Tk43,591 crore was collected during last the six months of the last fiscal year against the total target of Tk1,02,8 85 crore. Tax on income and profit earnings stood at Tk22,108 crore in first six months this fiscal year, but the total earning was estimated at Tk71,940 crore while the earning from custom duties was Tk9,509 crore in six months although the total estimate was Tk22,450 crore. In the NBR latest review, only 3% of business entities paid value added tax, who have Business Identification Number (BIN), but 97% of the business entities didn’t pay VAT yet.
Facebook 50
blogger sharing button blogger
buffer sharing button buffer
diaspora sharing button diaspora
digg sharing button digg
douban sharing button douban
email sharing button email
evernote sharing button evernote
flipboard sharing button flipboard
pocket sharing button getpocket
github sharing button github
gmail sharing button gmail
googlebookmarks sharing button googlebookmarks
hackernews sharing button hackernews
instapaper sharing button instapaper
line sharing button line
linkedin sharing button linkedin
livejournal sharing button livejournal
mailru sharing button mailru
medium sharing button medium
meneame sharing button meneame
messenger sharing button messenger
odnoklassniki sharing button odnoklassniki
pinterest sharing button pinterest
print sharing button print
qzone sharing button qzone
reddit sharing button reddit
refind sharing button refind
renren sharing button renren
skype sharing button skype
snapchat sharing button snapchat
surfingbird sharing button surfingbird
telegram sharing button telegram
tumblr sharing button tumblr
twitter sharing button twitter
vk sharing button vk
wechat sharing button wechat
weibo sharing button weibo
whatsapp sharing button whatsapp
wordpress sharing button wordpress
xing sharing button xing
yahoomail sharing button yahoomail