LTU collected record revenue of Tk 24,000 crore

The Large Taxpayer Unit (LTU) of the National Board of Revenue has surpassed the revenue collection target for the just-concluded 2020-2021 financial year. With a growth of 15.38 per cent, the tax department of the largest taxpayer unit has been able to collect a record revenue of Tk 24,011 crore till June 30. This information was received from LTU on Sunday (July 4).

According to the data received, the amount of corporate tax and tax collected from individual taxpayers stood at Tk 24,011 crore as of June 30, 2020-2021. Where the target for the fiscal year 2020-2021 was 24 thousand crore. The growth rate is 15.38 percent. In the previous fiscal year 2019-2020, the amount of tax collection was Tk 20 thousand 838 crore.

A senior LTU official said the LTU (income tax) had failed to meet its target for the past two financial years. There, the revenue has exceeded the target in the just-concluded financial year. The opportunity to legalize undisclosed money or black money has made a big contribution to the revenue collection of the last financial year. More than Rs 100 crore in taxes on LTU came from undisclosed funds. Those who have taken advantage of this at a flat rate of 10 percent. In addition, the revenue target for the last financial year was reduced by 11.6 percent considering the Corona epidemic. That is also a big reason for meeting the target.

Incidentally, in the just-concluded financial year, the government received a record amount of money due to undisclosed money or the opportunity to invest black money. According to the NBR, as of May 25, 10,404 people have taken the opportunity to launder black money. Through which 14 thousand 459 crore rupees have been whitewashed. The NBR received Tk 1,445 crore as tax.

Sunbd/NJ