Update: 4 January, 2018 19:02 PM
14.28pc growth in revenue collection in 5 years

14.28pc growth in revenue collection in 5 years

Photo: File

Revenue earnings have increased at an average rate of 14.28 percent over the last five years that has ultimately boosted the government's capacity to finance priority projects with own funds.

Revenue collection soared to Tk 1,85,003.69 crore in fiscal year 2016-17 (FY17) from Tk 1,09,151.73 crore in 2012-13 (FY13), according to the National Board of Revenue (NBR).

In the first five months (July-November) of the current fiscal year (2017-18), the NBR collected Tk revenue worth Tk 75,308 crore.
"Revenue earnings has gone up steadily over the last five years as the NBR has been able to create a revenue friendly culture in the country by taking up various innovative approaches, including holding tax fair, introducing VAT and tax cards and honoring taxpayers with Kar Bahadur," said former NBR chairman Md Nojibur Rahman who recently joined the Prime Minister's Office as Principal Secretary.

He said NBR has stopped harassment at field level by developing cordial relations with taxpayers across the country. Along with it, the NBR has reached services to the doorstep of the people with the help of technology, he added.

"NBR's innovative initiatives and digitization of tax related services have started yielding results," said Rahman.

According to the data of NBR, revenue earnings stood at Tk 1, 20, 819.85 crore in fiscal year 2013-14, up by 10.69 percent from the previous fiscal year (FY13). In the fiscal year 2014-15, revenue earnings stood at Tk 1, 35,700.70 crore, posting a 12.32 percent growth and in the fiscal year 2015-16, the growth was 14.60 percent as the NBR earned Tk 1, 55, 518.72 crore. There was a big leap in fiscal year 2016-17 as the NBR mobilized Tk 1, 85,003.69 crore positing a growth of 18 percent.

The contribution of Value Added Tax (VAT) was the highest 36.07 percent to the robust growth in revenue earnings, income tax contributed 35.17 percent and duty at import-export level 28.76 percent.

In FY13, the total number of electronic Tax Identification Number (e-TIN) holders was only 12 lakh which has now increased to 32.71 lakh.

"The quick rise in the number of taxpayers reflects that citizens are now becoming conscious in paying tax and their confidence in NBR is increasing. People are taking e-TIN at their own initiatives," said Nojibur Rahman.

Research director of Centre for Policy Dialogue (CPD) Khander Golam Moazzam said changes have taken place in the policy of NBR and its tax fair motivated people to pay tax. Online e-TIN and VAT registration were excellent initiatives that helped boost revenue collection, he added.

সম্পাদক : ইমদাদুল হক মিলন,
নির্বাহী সম্পাদক : মোস্তফা কামাল,
ইস্ট ওয়েস্ট মিডিয়া গ্রুপ লিমিটেডের পক্ষে ময়নাল হোসেন চৌধুরী কর্তৃক প্লট-৩৭১/এ, ব্লক-ডি, বসুন্ধরা, বারিধারা থেকে প্রকাশিত এবং প্লট-সি/৫২, ব্লক-কে, বসুন্ধরা, খিলক্ষেত, বাড্ডা, ঢাকা-১২২৯ থেকে মুদ্রিত।
বার্তা ও সম্পাদকীয় বিভাগ : বসুন্ধরা আবাসিক এলাকা, প্লট-৩৭১/এ, ব্লক-ডি, বারিধারা, ঢাকা-১২২৯। পিএবিএক্স : ০২৮৪০২৩৭২-৭৫, ফ্যাক্স : ৮৪০২৩৬৮-৯, বিজ্ঞাপন ফোন : ৮১৫৮০১২, ৮৪০২০৪৮, বিজ্ঞাপন ফ্যাক্স : ৮১৫৮৮৬২, ৮৪০২০৪৭। E-mail : [email protected]