The revenue target for the National Board of Revenue (NBR) was slashed by 10% for the 2016-17 fiscal year because of slow growth, which could have led to a shortfall in revenue collection. “Under these circumstances, I propose to reduce the target of revenue collection by 10% in the current fiscal year,” said Muhith. The government earlier set the overall revenue target at Tk2,42,752cr for fiscal year 2016-17. However, the government later downsized the revenue target to Tk2,18,500cr where NBR tax was set at Tk1,85,000cr, non-NBR tax at Tk7,261cr and non-tax receipt at Tk26,239cr. “The targets of revenue income from non-NBR and non-tax sources have undergone a downward revision to reflect less than expected revenue from these sources.

Source: Dhaka Tribune June 01, 2017 08:03 UTC