The large taxpayer unit (LTU) of the National Board of Revenue (NBR) has set a record in revenue collection as it collected Tk 24,011 crore against the revised target of Tk 24,000 crore in the outgoing fiscal year 2020-21 (FY21).
In the just concluded FY21, the large taxpayers under LTU have paid taxes worth Tk 240.11 billion until June 30, 2021, according to the latest data of the NBR.
"It is really appreciable that for the second time in the last six years, the LTU has successfully achieved its tax collection target," said an official of the LTU.
"As per the provisional estimate, the LTU has collected Tk 24,011 crore . . . we will be able to give a final calculation next week," the official said.
At present, LTU has 281 companies including banking, insurance, manufacturing, media, mobile phone operators and pharmaceuticals.
Besides, 987 directors of these companies also pay personal income tax to LTU.
The target was set at Tk 240 billion for FY 2020-21 (FY 21) for the unit - largely dependent on taxes from the banking sector.
The actual collection of LTU in FY 2019-20 was Tk 208.38 billion. Tax collection of LTU grew by 15.38 per cent in FY 21. However, the LTU missed its targets for FY 2018-19 and FY 2019-20.
The government received a record amount of undisclosed income in the just concluded FY - the amount is almost equivalent to the amount whitened in the last fifteen years.
Until May 25, some 10,404 people disclosed their money availing of the blanket opportunity offered on July 1, 2020.
The National Board of Revenue (NBR) has received taxes worth Tk 14.45 billion, against some Tk 144.59 billion whitened under the opportunity.
From FY 2005-06 to FY 2019-20, a total of Tk 145.95 billion undisclosed income has been formalised under such opportunities.
According to LTU sources, the amount of revenue collections are temporary, though it will take about two more weeks to get the final calculation.
