Country fetches Tk 399b revenue in 7 months

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Country fetches Tk 399b revenue in 7 months

The country’s revenue collection in the first seven months of the current fiscal year (2010-11) totaled to Tk 399.14 billion, posting a 28.44 per cent growth over the earnings during the same period of last fiscal.

The collection of revenue during the said period surpassed the target of Tk 363.65 billion.

Chairman of the National Board of Revenue (NBR) Nasiruddin Ahmed said while briefing journalists at the NBR yesterday.

The collection of revenue during first seven months of last fiscal stood at Tk 317.51 billion.

The tax authority, however, targeted to collect Tk 725.9 billion revenue during the current fiscal year.

The NBR will be able to achieve the target of revenue collection during the fiscal year as pace of growth in revenue collection will be continued, NBR chairman hoped.

The highest revenue came from income tax, which totaled to Tk 94.3 billion surpassing the target of Tk 85.95 billion, he said adding collection of revenue from VAT secured the second highest growth of 30.69 percent.

An amount of Tk 150.12 billion was collected as VAT during the said period against the target of Tk 133.71. The revenue as duty and excise from import-export businesses posted a growth of 22.86 percent during the period, he said.

The revenue earnings from export-import businesses during the seven month period amounted to Tk 152.32 billion against its target of Tk 141.27 billion.

“Massive awareness and motivational programme, budgetary measure and field level monitoring contributed a lot to boost to the revenue collection during the period,” Nasiruddin Ahmed said.