Govt targets Tk 92,847cr in revenue next fiscal
Staff Correspondent
The government is likely to set a revenue target of Tk 92,847 crore for the next financial year’s budget, said finance minister Abul Maal Abdul Muhith on Thursday.
The target is 16.81 per cent higher than that of the current fiscal year, for which the government set a revenue target of Tk 79,481 crore.
Muhith revealed the new revenue target at a pre-budget meeting with lawmakers in the finance ministry’s auditorium.
He also said the National Board of Revenue may set its revenue target from taxes and duties for the next fiscal year at Tk 72,590 crore. The target is 19 per cent more than that of the current fiscal year, which was set at Tk 61,000 crore.
Muhith also said that the target for non-NBR revenue, which is now Tk 2,200 crore, would be set at Tk 3,200 crore. The non-tax revenue target will be set at Tk 17,057 crore.
The ambitious revenue target is mainly aimed at coping with the pressure of a big budget of Tk 1,32,000 crore the next fiscal year.
Primary projections put the next Annual Development Programme at Tk 38,000 crore, 37 per cent higher than the revised one for the current fiscal year.
Sources said that the NBR plans to widen the tax net and engage lawmakers and representatives of local government in the process of realising its target.
NBR officials said more the than 1,000 students would be outsourced in a bid to net new taxpayers.
An NBR survey has spotted 1.78 lakh people who are eligible to become new taxpayers, mostly businesspeople and professionals, in six metropolitan cities.
The survey, launched last December by the NBR, is aimed at raising income tax earnings by widening the tax net. Of the new taxpayers, the number in Dhaka is 1.34 lakh and the rest are from the five other metropolitan cities.
NBR officials believe the newly found taxpayers will contribute a lot to fulfil the ambitious revenue target for the coming fiscal year.
Staff Correspondent
The government is likely to set a revenue target of Tk 92,847 crore for the next financial year’s budget, said finance minister Abul Maal Abdul Muhith on Thursday.
The target is 16.81 per cent higher than that of the current fiscal year, for which the government set a revenue target of Tk 79,481 crore.
Muhith revealed the new revenue target at a pre-budget meeting with lawmakers in the finance ministry’s auditorium.
He also said the National Board of Revenue may set its revenue target from taxes and duties for the next fiscal year at Tk 72,590 crore. The target is 19 per cent more than that of the current fiscal year, which was set at Tk 61,000 crore.
Muhith also said that the target for non-NBR revenue, which is now Tk 2,200 crore, would be set at Tk 3,200 crore. The non-tax revenue target will be set at Tk 17,057 crore.
The ambitious revenue target is mainly aimed at coping with the pressure of a big budget of Tk 1,32,000 crore the next fiscal year.
Primary projections put the next Annual Development Programme at Tk 38,000 crore, 37 per cent higher than the revised one for the current fiscal year.
Sources said that the NBR plans to widen the tax net and engage lawmakers and representatives of local government in the process of realising its target.
NBR officials said more the than 1,000 students would be outsourced in a bid to net new taxpayers.
An NBR survey has spotted 1.78 lakh people who are eligible to become new taxpayers, mostly businesspeople and professionals, in six metropolitan cities.
The survey, launched last December by the NBR, is aimed at raising income tax earnings by widening the tax net. Of the new taxpayers, the number in Dhaka is 1.34 lakh and the rest are from the five other metropolitan cities.
NBR officials believe the newly found taxpayers will contribute a lot to fulfil the ambitious revenue target for the coming fiscal year.
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