Finance
Revenue The revenue deficit in the last financial year is Tk 44,000 crores
Dhaka, July 10: National Board of Revenue (NBR) failed to achieve revenue collection targets. In the recently concluded financial year 2022-23, the revenue target of the organization was Tk 3 lakh 70 thousand crores. Against this, Tk 3 lakh 25 thousand 272 crores have been collected. This is Tk 44 thousand 728 crores less than the target. Tax collection has increased by 8 percent in the last financial year. As a result, NBR failed to achieve the revenue collection target for 11 consecutive years.
According to NBR sources, Tk 91 thousand 717 crores have been collected against the target of Tk 111 thousand crores of revenue from the import-export sector. The deficit in this sector is Tk 19 thousand 282 crores. Against the target of Tk 1 lakh 36 thousand 900 crore rupees, Tk 1 lakh 20 thousand 633 crore rupees have been collected from value addition sector (Musak) or (VAT). The deficit in this sector is Tk 16 thousand 266 crore taka.
And the target of collection from income tax sector was Tk 1 lakh 22 thousand 100 crores. Tk 1 lakh 12 thousand 921 crore has been collected. Deficit is Tk 9 thousand 178 crores. There has been a growth of 2.56 percent in import and export, 11.27 percent in revenue and 9.62 percent in income tax.
In the last financial year 2021-22, the amount of revenue deficit was Tk 28 thousand crores. A revenue of Tk 3 lakh 852 crore was collected that year. Accordingly, the deficit in the fiscal year 2022-23 is an additional Tk 16 thousand crore.
Ahsan H. Mansoor, executive director of the Policy Research Institute of Bangladesh and a former IMF economist, said, "The deficit is more than what we thought. We thought that the revenue would be Tk 3 lakh 30,000 to Tk 3 lakh 35,000 crore. That didn't happen either."
He felt that NBR needs to be reformed to increase revenue collection.
