FY13 revenue falls Tk36bn short of target

The revenue collection fell over Tk36bn short of the target for the just finished fiscal year, said a senior official of National Board of Revenue.

NBR mobilised Tk1.09tn in 2012-13 against the target of Tk1.12tn. The overall growth rate from the previous fiscal was 14.26%.

Earlier, NBR chairman Ghulam Hussain at a press conference expected the revenue would increase by an additional Tk10bn by July 15 from what they collected as of June.

His expectation was based on Value Added Tax from some of the sectors remained due but was scheduled to come by mid-July.

The recent document as of July 24 shows that NBR has failed to achieve its additional target. It collected only Tk3.9bn within the mid-July.

The income tax wing collected Tk366bn against its target of Tk353bn, the VAT department Tk391bn against its target of Tk404bn and import duty Tk323bn against its target of Tk356bn.

Customs revenue posted a growth of 3.15%, VAT 13.17% and income tax witnessed 27.62% growth.