New VAT office beats annual target

A newly formed VAT commissionerate in Dhaka logged higher than targeted revenue in the first year of its launch.
Taxmen under the new customs, excise and VAT commissionerate of Dhaka (East) collected Tk 479.62 crore in revenue, which is Tk 1.53 crore higher than the revised target, said a statement.
The new VAT (value added tax) office began its journey in November last year with an initial goal to collect Tk 470.59 crore in revenue.
The collection increased to Tk 478.09 crore later, added the statement.
Last year, the National Board of Revenue opened four new VAT commissionerates, including two in Dhaka, in a bid to boost revenue collection.