The pace of revenue collections quickened in January, driven by increased receipts from income tax as the deadline for filing personal income and wealth statements for the current fiscal year ended last month.

The tax collection growth fell further in April, making it tougher for the National Board of Revenue (NBR) to attain its goal of raising Tk 370,000 crore in the current fiscal year. 

Tax collection growth slowed drastically in the first half of the current fiscal year due to falling customs tariff and direct taxes amid declining imports and reduced profits of firms, limiting the government’s scope to spend on development activities.