The Ministry of Finance has asked the National Board of Revenue to explain issues behind the revenue shortfall in the first quarter of this fiscal year.
The NBR has lagged behind Tk5798.54 crore or 15.81% in July to September period of the fiscal year 2015-16.
In a letter addressed to the revenue board recently, the ministry enquired about reasons behind the inadequacy and steps taken to prevent it.
The board was also asked to provide a detailed report on the progress and plans regarding the Value Added Tax and Supplementary Duty Act 2012.
The ministry will hold a meeting with the International Monetary Fund on November 5, and it requires explanation before
that to tell the IMF team the issues, said officials.
According to provisional data, the tax authorities have collected Tk30,910.67 crore against the target of Tk36,709.21 crore during the period, with shortfall in all its three wings -- income tax, customs duties and Value Added Tax.
During the period, the VAT wing faced the highest shortfall of Tk2417 crore followed by income tax wing, Tk2027 crore, and customs duties, Tk1360 crore.
NBR officials attributed the fall in revenue collection to sluggish economic functions and domestic consumption and slow export-import activities.
But according to Finance Minister AMA Muhith, there are other reasons too.
Expressing his dissatisfaction, Muhith said it was a bad signal as the National Board of Revenue failed to meet the revenue collection target during the first quarter of this fiscal year.
Ruling out the dull economic activities both in domestic and external sectors for the sluggish revenue growth, the minister said the economy is in a good condition.
He said internal administrative change and disagreements among officials could have left serious impact on the revenue collection situation.
The NBR is assigned to collect Tk1,76,370 crore revenue in the fiscal year 2015-16. Of the total amount, the highest collection target set for income tax wing is Tk65,932 crore followed by VAT Tk63,902 crore and customs duty Tk46,536 crore.