On the back of good responses from individual taxpayers, the National Board of Revenue (NBR) achieved a 22.53 percent revenue growth in the first five months of the current fiscal year. The NBR received Tk 7.3911 billion from 6,45,617 individual taxpayers in the tax year of 2007-08 against Tk 2.5211 billion a year ago, contributing to the overall revenue growth.

NBR Member (Income Tax Policy) Ali Ahmed said the hefty growth in income tax collection has been possible as a good number of people submitted income tax returns this year.

Taxpayers especially businesspersons have paid more income tax than before due to the changing political scenario, Ahmed added.

The caretaker government led by Dr Fakhruddin Ahmed started anti-crime drive in January this year and arrested many high-profile politicians, businesspeople and bureaucrats. The NBR also filed cases against a good number of people on charges of tax evasion, prompting the rise in number of individual tax returns this year.

The NBR collected Tk 158.2033 billion revenue in five months against Tk 129.1192 billion in the same period a year ago.

The income tax department posted the highest 44.66 percent growth as it collected Tk 32.1215 billion in July-November period against Tk 22.2044 billion in the same months of 2006-07 fiscal year.

With a moderate 10.88 percent growth the customs department collected Tk 34.9786 billion against Tk 31.3877 billion.

At import stage, the NBR collected Tk 28.9837 billion in value added tax, up by Tk 5.4477 billion. The growth in the head is over 23 percent.

The NBR collected Tk 7.0318 billion in supplementary duty in import stage. Moreover, Tk 53.43 billion has been collected in value added tax, supplementary duty and excise at local production level.

The overall revenue target for the current, 2007-08, fiscal year was set at Tk 438.50 billion. Out of the target, Tk 178.12 billion was set for customs duty, Tk 10,838 for income tax and Tk 148 billion for value added tax and supplementary duty.