Large Taxpayers Unit (LTU) of Value Added Tax (VAT), one of the wings of National Board of Revenue (NBR), made a record growth of revenue collection in the first six months of the current fiscal year comparing to the same period of the last four years.
According to the provisional data, the unit collected Tk 19,874 crore in six months (July-December) period of the current fiscal year 2017-18 against Tk 16, 738 crore in previous fiscal year 2016-17.
Data showed that the unit achieved around 3.5 per cent more growth where average growth of the unit was 15.68 per cent in last four years.
In July-December period of the current fiscal year the unit's growth was 18.73 per cent.
An official of the unit told the Daily Observer on Monday that in recent time the unit strengthened its supervision on taxpayers' under the unit's jurisdiction and got result instantly.
"For achieving revenue collection targets we have taken various moves including intelligence work, internal audit, document scrutiny alongside our normal activities which helps us to make the achievement," he said.
According to the LTU officials the unit issued 49 primary demand notices in the period against those taxpayers who have been avoiding or dodging taxes for long time.
Besides in the same period the unit issued 12 final demand notices against taxpayers where Tk 1032 crore taxes were involved.
The target for the NBR in the current fiscal has been set at Tk 2,48,190 crore while the target of Non-NBR tax revenue collection has been fixed at Tk 8,662 crore. The target of non-tax revenue collection has been set at Tk 31,179 crore.
The NBR has to collect Tk 87,190 crore from income tax and corporate tax, Tk 91,000 crore will come from VAT while Tk 30,153 crore will come from import and export duty and Tk 38,212 crore will be generated from supplementary duty.
