The National Board of Revenue is heading toward a record revenue collection shortfall in the current financial year, 2024-25, due to some unavoidable disruptions, including economic sluggishness, political instability, and prolonged protests by NBR employees.
According to NBR sources, in the first eleven months of FY25 (July to May), the NBR collected approximately Tk聽321,000 crore, which is about 3.81 per cent higher than the same period in FY24.
In the first eleven months of FY24, the revenue collection was about Tk 309,222 crore.
As of May, FY25, the NBR collected more than Tk聽92,000 crore from customs, Tk聽124,000 from VAT, and Tk聽104,000 from income tax.
The revised target for revenue collection was Tk聽463,000 crore in FY25, indicating a remaining gap of Tk聽141,000 crore.
If the NBR wanted to achieve its target, it had to collect the remaining revenue in June, which the NBR officials and economists believed was impossible.
Typically, the NBR generated around Tk聽30,000 per month in revenue in FY25, indicating a potential shortfall of more than Tk聽100,000 crore in revenue for the current financial year, which ends on June 30.
However, in June of FY24, the NBR collected revenue of Tk 58,301 crore, NBR data stated.
Initially, the revenue collection target for FY25 was set at Tk聽480,000 crore. Amid economic uncertainty, the target was later revised.
In FY24, the total revenue collection was Tk聽382,678 crore, against the target of Tk聽410,000 crore, resulting in a gap of approximately Tk聽27,000 crore.
The gap in revenue collection was about Tk聽38,000 crore in FY23, when the NBR collected Tk聽331,502 crore against a target of Tk聽370,000, according to the annual report of the Internal Resource Division of FY24.
Meanwhile, for the first time in recent years, the shortfall may surpass about Tk 100,000 crore.聽
Economists and NBR officials stated that back-to-back disruptions, including the political transition, protests by NBR employees, and 10-day Eid holidays, significantly hampered revenue collection.
According to NBR sources, in May, the NBR collected revenue of Tk 32,964 crore from its various revenue collection sectors, including customs, VAT, and income tax.
The revised target of collecting revenue in May of 2025 was TK 35,727 crore. However, revenue collection in May 2025 witnessed an increase of 6.41 per cent, which was Tk 30,979 crore in May of 2024.
In April of FY25, the revenue agency collected revenue of Tk聽32,781 crore, which was 14.42 per cent higher than Tk聽28,650 crore in FY24, according to the NBR data.
Talking to 抖阴精品, Professor Mustafizur Rahman, distinguished fellow of the Centre for Policy Dialogue, said that Bangladesh has one of the lowest tax-to-GDP ratios globally.
鈥楾o reduce the deficit, we must close tax loopholes and ensure good governance. The NBR lacks efforts of collecting revenue,鈥� he added.
Masrur Reaz, chairman and chief executive officer of Policy Exchange Bangladesh, told The 抖阴精品 that the revenue collection target wasn鈥檛 set systematically or based on proper research into the economy.
Moreover, the July uprising and a number of movements, protests, blockades at onwards months also impacted country鈥檚 supply chains, he added, saying that even NBR officials were on protests for about two months.
The economists suggested that the government should establish realistic and economically rational targets for revenue collection in the upcoming financial year.
