The National Board of Revenue (NBR) received a target of BDT 325,660 crore — 11.3 percent of the GDP —16.26 percent higher than FY19.
The highest revenue will come from Value Added Tax (VAT) and income tax.
The government proposed to set the total revenue target for the upcoming fiscal year (FY2019-20) at 377,810 crore —13.1 percent of the GDP. It includes both tax and non-tax revenue.
NBR has been tasked with a collection target of BDT 325,660 crore, while tax revenue from non-NBR sources have been estimated at BDT 14,500 crore — 0.3 percent of the GDP.
Non-tax revenue is estimated at BDT 37,710 crore.
NBR has been assigned to collect VAT of BDT 1,17,671.68 crore — highest among all the sectors — which is 13.14 percent higher than the previous year.
The second highest NBR revenue will come from income tax and other direct taxes. The target for income tax and other direct taxes has been set at BDT 1,15,588.16 crore — 19.62 percent more than previous year.
Revenue target for import-export has been set at BDT 92,340 crore — 16.26 percent higher than FY19.
The size of the total expenditure for next fiscal year has been estimated at BDT 523,190 crore — 18.1% of the GDP.
The budget session started, on Thursday, with Speaker Shirin Sharmin Chaudhury in the chair.