Revenue collection up 2pc in Jul-Dec

Revenue collection grew 2 per cent year-on-year to Tk 108,471 crore in the July-December period but the receipts were the lowest in recent years as the economy is yet to return to normalcy.

On the back of increased receipts from import and export activities and income tax, tax officials collected a higher amount of revenue in the first half of the fiscal year than a year ago.

Collection of valued-added tax, the main source of revenue for the government, dropped in the preliminary estimate.

However, Md Anwar Hossain, director-general for research and statistics of the National Board of Revenue (NBR), said the total collection would increase by the end of January when the final data of VAT collection becomes available.

As per the provisional data, the collection shortfall stood at Tk 32,754 crore in the first half. The NBR had targeted to log Tk 141,225 crore during the period.

In July-December, the collection from customs grew 6.66 per cent year-on-year to Tk 33,608 crore. Income tax receipts rose nearly 5 per cent to Tk 34,238 crore.

VAT collection declined 3.36 per cent to Tk 40,624 crore.

The government has set a goal to generate Tk 330,000 crore in the current fiscal year, but the target is likely to be revised downwards because of the slowdown in the economy.