Revenue collection rose 20 per cent year-on-year to Tk 259,867 crore in 2020-21 fiscal year thanks to increased import duty, value-added tax (VAT) and income tax receipts.

In the previous fiscal year, the National Board of Revenue (NBR) collected Tk 216,452 crore in revenues.

In fiscal year 2021, collection of customs tariff or import duty surged 27.41 per cent to Tk 77,150 crore, VAT receipts spiralled 15.42 per cent to Tk 97,492 crore and income tax 19.31 per cent to Tk 85,224 crore, according to preliminary data of the NBR.

Despite the rise, the tax administrator is still Tk 41,133 crore below the revised revenue collection target in 2020-21 fiscal year.