Staff Reporter :
The deficit in revenue collection by the National Board of Revenue (NBR) has increased in the first three months of the 2024-25 fiscal year, sources report. The NBR collected Tk 5,500 crore less compared to the same period last year. Data from the NBR indicates that total revenue collection in the first quarter (Q1) fell by 6.1 percent compared to the previous fiscal year.
Dr. Muhammad Abdul Majid, former Chairman of the NBR and current Chairman of the Social Development Foundation (SDF), stated in an interview with The New Nation on Tuesday, “It is well-known that the country faced significant unrest over the last three months, which was a primary factor behind the deficit in revenue collections during this period.”
He noted that revenue collection tends to be lower in the first quarter of each fiscal year. Additionally, this year’s political unrest, curfews, and numerous public holidays further contributed to the decline in revenue.
Data from the revenue collection authority revealed that earnings from all segments-including import and export tariffs, VAT, and income taxes-decreased during the first quarter of the fiscal year.
The NBR’s target for total revenue collection for the first three months (July-September) was Tk 96,499.90 crore, but it only managed to collect Tk 70,902.90 crore, down from Tk 75,487.70 crore during the same period last fiscal year.
The target for revenue collection in September was Tk 39,324 crore, yet the NBR collected only Tk 29,002.68 crore.
Despite these challenges, experts remain optimistic, stating that the government and the NBR have implemented various new strategies to enhance revenue collection in the upcoming months.