Taka 1.36 trillion revenue was collected by the National Board of Revenue in the just concluded 2014-15 fiscal year.
NBR Chairman Nojibur Rahman said at a press conference on Wednesday the revenue collected in the 2014-15 FY was 12.4% higher than the previous FY’s figure and 0.74 percent more than the revised target.
The revenue board collected Tk 1.21 trillion in 2013-14 FY and for 2014-15 FY it had set a target of Tk 1.5 trillion, which was later downsized to Tk 1.35 trillion.
The figure is more than the target the organization had set.
Revenue collection beat the target amid speculations that the board would miss it.
NBR Member (VAT) Enayet Hossain and Member (Tax Administration) Abdur Razzak were also present at the press meet held at the revenue board’s VAT Online Project office at Dhaka’s Kakrail.
Rahman said: “Many were skeptical about whether the revenue target will be reached.
“But we’ve surpassed it by dint of good governance, collection by a modern management system, and concerted effort.”
He said Tk 382.35 billion in revenues was collected from exports and imports against a target of Tk 375 billion.
According to him, Tk 486.38 billion was collected in VAT and Tk 493.93 billion in income and travel taxes against the targets of Tk 482.64 billion and Tk 492.64 billion respectively.
The overall revenue collection had registered 10.69 percent growth in 2013-14 FY over the previous year.
The three-month violent agitation by the BNP-led alliance from January this year had badly affected businesses, particularly manufacturing, export-import, transport and tourism sectors.
The damage to the economy prompted business leaders, think-tanks, and analysts to speculate that the revenue collection target for 2013-14 FY would not be fulfilled.
For the 2015-16 FY beginning on July 1, NBR has set a collection target of Tk 1.76 trillion, which is around 29.41 percent higher than the just concluded FY’s figure.
The NBR chief thinks the target is attainable as the board foresees ‘some prospective fields’ ahead.