The revenue collectors shrugged off all uncertainties over reaching the fiscal year’s target after weeks-long political chaos and managed to mobilise an amount that is bigger than the revised target.
According to the provisional figures, the National Board of Revenue collected Tk1,36,267 crore against its revised target of Tk1,35,028 crore in the fiscal year 2014-15.
The NBR surpassed the target by around Tk1,239 crore after failure in last two consecutive years.
NBR chairman Nojibur Rahman announced the achievement at Vat online project office at the IDEB Bhaban in the city.
All three wings of the tax authorities posted growth in revenue collection by an average of 12.79% from the same period of last fiscal year. In FY2013-14, the revenue growth was 10.69%.
The government, earlier, revised down the revenue target to Tk1,35,028 crore from the original target of Tk1,49,720 crore on apprehension that the target would not be achieved as the collection faced setback due to the political turmoil.
NBR collected around Tk38,236 crore against the target of Tk37,500 crore in customs duties while the value added tax wing mobilised Tk48,638 crore against the target of Tk48,264 crore.
Income tax and travel tax wing collected Tk49,393 crore against the target of Tk49,264 crore, according to the data.
Revenue from customs duties grew 15.01% while the Vat wing registered growth of 11.23% and income tax wing 12.64%.
However, the authorities failed to meet the revised revenue target for the month of June as it received Tk18,224 crore against the target of Tk18,688 crore.
Weeks of political violence in the third quarter of the fiscal year, stagnated private investment and poor ADP implementation were among the reasons. In the FY2013-14, the shortfall in revenue collection was Tk4,488 crore and in the FY2012-13, it was Tk3,645 crore.
