• Tuesday, Jul 05, 2022
  • Last Update : 04:24 pm

Dhaka West VAT Commissionerate fetches 3,000C revenue in FY21

  • Published at 08:20 pm July 4th, 2021
Bangladesh Customs and VAT

The revenue collection target from Dhaka West Commissionerate was Tk3,300 crore

The Customs, Excise and VAT Commissionerate (Dhaka West) under the National Board of Revenue (NBR) fetched Tk3,000 crore as revenue from VAT in the last 2020-21 fiscal year, registering a 7% growth.

The revenue collection from this VAT Commissionerate was Tk2,822 crore in FY20.

Authorities said that apart from checking tax evasion, the Dhaka West Commissionerate had witnessed higher growth in revenue collection despite the pandemic as revenue generation increased by a significant rate in the productive sector.

Also read - Comilla taxpayers deposit 3,134C to state coffers for FY21 despite pandemic

Commissioner of Customs, Excise and VAT (Dhaka West) Syed Mushfiqur Rahman said that the international trade fair did not take place this time due to the pandemic.

The Bangabandhu International Conference Centre also remained closed and the implementation rate of development projects remained a bit low for which there was less realization of tax at source in the last fiscal year.

“But the VAT collection increased despite the pandemic since revenue collection increased in the productive sector and efforts were made to check VAT evasion,” he added.

Mushfiqur further said there was ample scope for increasing revenue collection in the productive sectors of industrial zones like Savar and Ashulia this time.

He said they remained vigilant round the year to check VAT evasion.

“We have tried to check VAT evasion by strictly reviewing the audit reports submitted by the business firms to banks. For this, the revenue collection from the productive sector in the last fiscal year witnessed a 25% growth.”

Also read - Customs officers get more power

Mushfiqur said revenue generation from tax at source under this Commissionerate witnessed a 10% fall in the last fiscal year.

He said the majority portion of revenues, like tax at source, used to come from the development projects, but the number of such projects were less under the jurisdiction of this Commissionerate last year.

The commissioner also hoped that it would be possible to attain the revenue collection target in this year if the revenues from tax at source is collected at a desired level.

The revenue collection target from Dhaka West Commissionerate was Tk3,300 crore last fiscal year.

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