BSS-41 Income tax collection witnesses 15.60 pc growth during July-Nov

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BSS-41

INCOME TAX-GROWTH

Income tax collection witnesses 15.60 pc growth during July-Nov

DHAKA, Dec 28, 2017 (BSS) – The income tax collection witnessed a robust growth of 15.60 percent during the July-November period of the current fiscal year (FY18) with Taka 21,646 crore compared to the same period of the last fiscal year (FY17).

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.

Talking to BSS, 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.

Besides, the number of ETIN holders till November of this year also rose to 32,34,654 which was 24,41,653 in last November. As a result, the number of taxpayers rose by 7.93 lakh or by 32.47 percent over the last one year till this November.

BSS/TRANS/RI/GM/KU/1843 HRS