A file photo shows people queuing up to submit their income tax returns at a fair in Dhaka. The National Board of Revenue’s earning stood at Tk 70,293 crore in the first 10 months of the current fiscal year, exceeding the target slightly. — New Age photo

The National Board of Revenue’s earning stood at Tk 70,293 crore in the first 10 months of the current fiscal year, exceeding the target slightly.
Revenue collection in July–April of the current fiscal year was Tk 506 crore higher than the collection target of Tk 69,787 crore for the period, NBR data showed.
The 17.98 per cent
year-on-year growth in earning during the period was, however, much
lower than 27 per cent year-one-year growth in July-April, in 2010-11 financial year.
In July-April of FY 2010-11, the NBR had collected Tk 59,556 crore.
The NBR had set a revenue collection target of Tk 91,870 crore for this financial year with a 21 per cent growth compared to the previous financial
year. Later, the target was revised upward by
Tk 500 crore.
In July-April, the revenue board collected 76 per cent of the target for entire fiscal year and the board will have to earn Tk 22,077 crore in the remaining two months of the year.
Experts and officials said that till now the growth of revenue earnings was satisfactory compared to the country’s macro-economic situation and the NBR is likely to achieve its revenue earnings target.
However, former NBR chairman MA Mazid expressed his concern over actual growth in revenue earnings.
At a round table discussion on Saturday, he said that the revenue earnings grew at significant rate because of growth in gross domestic products and size of annual development programme.
‘But if we consider GDP and ADP in revenue growth then the actual growth in revenue earnings will not be significant,’ he said.
However, NBR officials said that the board would be able to meet the target in the latter two months of the fiscal year when the revenue collection usually grows fast.
The board also took some initiative to boost revenue collection including introduction of alternative dispute resolution, collection of outstanding taxes and introduction of e-payment system which would also help better collection, they said.