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revised revenue-earning target fixed for the last fiscal year although the
growth was a slim 10.63 percent year- on-year due to poor import duty
collection. The overall revenue collection by the NBR was Tk 52 ,476
crore in fiscal year 2008-09 against the target of Tk 53 , 000 crore.
The shortfall was Tk 523 crore. NBR high officials said there was no
growth in import duty rather revenue fell by 2.82 percent last fiscal
year. According to Bangladesh Bank statistics, during the July-April period
in the last fiscal year import increased by only 8.86 percent, whereas
the growth was 24.68 percent in the same period of 2007-08. However a
senior NBR official said they are putting emphasis on local tax including
income tax and VAT (value added tax) -- two good performing areas. Growth
in both VAT and income tax was more than 18 percent last fiscal year. The
NBR target for income tax was Tk 13 ,538 crore although achievement was
Tk 351 crore higher than the target. The collection was Tk 13 ,889 crore
and growth 18.26 percent. At local level, Tk 17 ,317 crore tax was
collected against the target of Tk 17 , 722 crore with a growth of 12.44
percent. But the VAT in local level collection was Tk 10 ,915 crore -- Tk
164 crore higher than the target. The growth was 18.91 percent. At import
level, Tk 20 ,856 crore was collected against the target of Tk 21 , 322
crore with a growth of only 5.09 percent. Import-level tax includes import
duty, VAT and supplementary duty. Import duty collection fell by 2.82
percent, while VAT (import level) growth was 8. 19 percent and
supplementary duty ( import level) growth 33.38 percent. For the current
fiscal year the NBR fixed a target of collecting Tk 61 ,000 crore revenue,
and the growth will be 16.24 percent. The NBR officials said they have
started work to collect more revenue than the target and taken different
initiatives from the beginning of the current fiscal year in this regard.
The NBR will conduct survey in Dhaka, Chittagong and Sylhet to net new
taxpayers.
