Income tax growth hits 15.60 pc in 5 months
Published : 03:00 PM, 31 December 2017 Sunday | Updated: 09:20 PM, 3 January 2018 Wednesday
In the first five month period (July-November) of the current fiscal year (2017-18) the National Board of Revenue (NBR) has collected Tk 21,646 crore. Which is 15.60 percent more than the same period of last year.
At the same period of last year, the amount of income tax was Tk 18,725 crore, said NBR member (income tax administration) M Abdur Razzaque.
On the other hand in current fiscal year the submission of individual tax returns also rose by 36 percent during this July-November period compared to the corresponding period of the last fiscal with a total submission of 15,56,616 tax files, he added.
The total submission of individual tax returns during the same period of the last fiscal year was 11,44,497.
M Abdur Razzaque said the taxpayers now feel more encouraged and have been giving more response in paying income tax due to various motivational steps by the NBR side by side uses of ICT and introduction of tax-friendly environment.
`Side by side, the surveillance by the tax administration has also increased compared to the past,` he added.
According to NBR, the overall collection of Taka 21,646 crore income tax during this July-November period also include Taka 453 crore as travel tax, reports BSS.