Revenue collection by the National Board of Revenue fell Tk 2,871 crore or 17 per cent short of target in July, the first month of the current fiscal year 2018-2019, mainly due to poor performance of value-added tax and customs wings of NBR.
The revenue board also registered a dismal revenue collection growth of 4.86 per cent in July compared with the same month of last year.
The year-on-year revenue receipts growth was 27 per cent in July last year.
NBR data released on Wednesday showed the tax authorities collected Tk 13,868 crore in revenue — income tax, customs duty and VAT — in July, up by only Tk 642 crore in the same month of last year. The amount of revenue earning was Tk 13,226 crore in July last year.
The revenue earnings target of NBR was Tk 16,739 crore for July this year.
Collections of customs duty at import stage grew only by 1.49 per cent and VAT collection grew by 0.61 per cent in July.
Income tax collection, however, witnessed a modest growth at 17.51 per cent in the month.
The customs wing managed to collect Tk 4,848 crore and VAT wing Tk 5,407 crore while income tax collected Tk 3,613 crore in the month.