Income tax collection sees 15.60 pc growth


FE Online Desk | Published: December 28, 2017 20:32:28 | Updated: December 29, 2017 12:33:37


Income tax collection sees 15.60 pc growth

Income tax collection witnessed a robust growth of 15.60 percent during the July-November period of the current fiscal year (FY18).

The income tax collection during the five-month period (July-November) of the last fiscal year (FY17) was Taka 18,725 crore, said NBR member (income tax administration) M Abdur Razzaque.

He said 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.

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. 

 

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