Top 10 entities contribute 43pc of total VAT, SD in FY17

Deposit Tk 28,824cr in LTU (VAT) of NBR

Jasim Uddin | Published: 22:48, Jul 22,2017 | Updated: 00:24, Jul 23,2017

 
 

Only 10 businesses and state-owned enterprises contributed Tk 28,824 crore or 43 per cent of the total value-added tax and supplementary duty collected at the domestic stage in the just concluded fiscal year of 2016-2017.
The companies from tobacco, telecom, power and gas, food and beverage sectors deposit VAT and SD in the large taxpayers unit (VAT) of the National Board of Revenue after collecting these from consumers.
The top 10 companies contributed 78.50 per cent of the total collection of LTU VAT in last fiscal year by collecting Tk 36,742 crore from domestic business activities, according to the provisional data of the unit.
Of the companies, British American Tobacco Bangladesh deposited the highest amount — Tk 13,650 crore — in VAT and SD in the LTU followed by Petrobangla, state-run Bangladesh Oil, Gas and Mineral Corporation, with Tk 4,504 crore and Dhaka Tobacco Industries with Tk 3,309 crore.
Grameenphone, the leading telecom operator of the country, became the fourth highest VAT-payer by depositing Tk 2,296 crore.
A total of 170 large-scale business entities are enlisted with the LTU. Of them, 157 entities remain functional.
The LTU companies contributed more than 55 per cent of the total VAT and SD collected by the revenue board from the sector in last fiscal year.
The revenue board collected Tk 67,000 crore in VAT and SD from the domestic sector, which accounted for the highest 36.20 per cent of the NBR revenue in the year.
According to the provisional data, the NBR mobilised Tk 1,85,071 crore in VAT, income tax and customs duties in the FY 2016-2017.
Among the other highest VAT-paying entities, Titas Gas Transmission and Distribution Company paid Tk 1,880 crore, telecom operator Robi Tk 982 crore, Banglalink Tk 853 crore, state-owned Habiganj Gas Field Tk 681 crore, Bangladesh Power Development Board Tk 349 crore and Akij Food and Beverage Ltd paid Tk 315 crore in VAT and SD.
The next highest 10 VAT-paying companies under the LTU are Islami Bank Bangladesh, Kailashtila Gas Field, Dhaka Power Distribution Company Limited, Incepta Pharmaceuticals Limited, Sonali Bank, Unilever Bangladesh Ltd (Chittagong), Rupantarita Prakritik Gas Co Ltd, Rashidpur Gas Field, Transcom Beverage Ltd and Dhaka WASA.
LTU (VAT) commissioner Matiur Rahman said that the unit achieved 20.50 per cent growth, highest in last five years, in revenue collection in FY17 compared with that in the previous fiscal year.
In FY 2015-2016, the collection by LTU was Tk 30,417 crore.
The top 20 entities paid more than 84 per cent of the total collection by the unit, he said.
The unit received 88 per cent of its revenue from five sectors — cigarette, natural gas, mobile phone, bank and medicine. 

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