National Board of Revenue (NBR) has collected Tk 24,836 crore as income tax revenue in the first five months of the current fiscal year 2019-20. The amount was 13.30 percent higher than the same period of the previous fiscal,  according to NBR.

During the period, a total of 20,06,715 income tax returns were submitted. Talking to the news agency, NBR Chairman Md Mosharraf Hossain Bhuiyan said they have laid emphasis on tax net expansion and that’s why both return submission and collection were increased.

“I am expecting at the end of the fiscal, return submission would reach nearly 25 lakh along with record revenue collection,” he added. In the current fiscal, revenue income target was set at Tk 3,25,660 crore, of which Tk 1,15,588 crore is expected to come as income tax.

NBR will observe the VAT Day and VAT Week in the capital and other divisional cities this month with the theme ‘VAT Dichhe Jonogon, Desher Hochhe Unnayan’. The revenue board has chalked out various programmes to hold the National VAT Day on December 10 and the National VAT Week from December 10-15.

The NBR Chairman Md Mosharraf Hossain Bhuiyan informed this while talking to the news agency yesterday. He said the aim of observing the

VAT Day and the VAT Week is to motivate and make aware the common people to pay VAT through following good governance and improved management system.

“We’ll have to make VAT more simple before the common people,” Mosharraf said hoping that through this, a good relationship would be developed between the VAT officials and the taxpayers and thus paving the way for boosting revenue generation.