Editorial
Revenue collection up
Unrealised potential awaits tapping in on
This is for the third time in the last ten years that the National Board of Revenue (NBR) met the revenue collection target it had set for itself -- for the fiscal 2009-10. The amount collected stood at Tk 62,007.47 crore reflecting a growth of 18 percent over that of the last fiscal. In fact, it has exceeded the target by a margin of Tk 1,007 crore plus. This is not to forget, however, that part of the increase in revenue is due to Tk 121.2 crore collected as tax on whitening of Tk 923 crore in black money. The point to remember is also that poor collection from undisclosed incomes persists as a problem, partly legalistic and partly political, perhaps.
All the same, the NBR's performance is praiseworthy. A substantial increase to the kitty has come from VAT, income tax and supplementary duty. It is not without significance though that travel tax collection dwindled. It is important to note that revised rates of VAT and customs duty have helped push up the revenues. That leaves the focus on how efficient the NBR has been in its collection efforts, procedure-wise and administratively?
It augurs well that 3.43 lakh new tax-payers have entered the stream during the last ten months. Economists and planners, however, believe that substantial unrealised potential in garnering more tax from new sources and individuals remains in a country of our population size and diversification of income generating efforts.
To realise the full potential of domestic resource mobilisation, NBR's internal mechanisms will have to be modernised and rendered collection-friendly. We have often heard about modernising the collection process through automatisation. But nothing has taken root as yet on the ground. It is our belief that use of online technology would not only help ensure transparency but better collection as well. Alongside, the need for strengthening the central intelligence cell to spot evasion under the overall superintendence of an incorruptible and professionally sound authority can hardly be overemphasised.
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