NBR to reciept previously evaded tax rise 84 pcNBR to reciept previously evaded tax rise 84 pc

Revenue receipts from previously evaded tax rose 84 percent in fiscal year 2010-11 from earlier year according to a source of National Board of Revenue (NBR). This disclosure came on June 30 when officials of NBRs Central Intelligence Cell presented the revenue collection scenario on the dodged tax to NBR chairman. NBR collected Tk. 103 crore previously evaded tax in 2010-11. Of the amount, income tax collection Tk. 80 crore, VAT Tk 18 crore and import duty Tk. 5 crore. In 2009-10 that was Tk. 56 crore in evaded tax. NBR take a 5 year modernization plan to boost tax collection performance of officers. For the fiscal 2011-12 NBR set target t collect Tk. 91,870 crore in revenues, which is Tk. 16,270 crore more than the last fiscal year's revised budget. Finance Minister reset on June 29 income tax rate at source .7 percent from 1.5 percent in proposed budget. It was .5 percent in 2010-11.