Tax receipts rise 27pc in July

Tax receipts rose 27 percent year-on-year in July to Tk 12,189 crore, buoyed by a surge in imports and value-added tax collection from domestic trade, according to the National Board of Revenue's provisional estimate.

In import tax collection in July, the revenue authority recorded 51 percent growth to Tk 4,777 crore.

During the month, imports surged 47 percent year-on-year to $4,325 million, according to Bangladesh Bank data.

At the domestic stage, collection of VAT, a type of consumption tax, shot up 19 percent year-on-year to Tk 4,355 crore in July, the first month of fiscal 2017-18.

Income tax receipts grew 11 percent year-on-year to Tk 3,057 crore in the month, according to the NBR.

This fiscal year, taxmen have been given the target of Tk 248,190 crore, which is 34 percent higher from the NBR's total receipts in fiscal 2016-17.

The NBR could log in 91 percent of the tax collection target of Tk 203,152 crore last fiscal year, according to data from the NBR.