Govt raises revenue targets from narcotics, liquor duties in new budget
While the original revenue target from non-NBR sources for the current fiscal year was Tk15,000 crore, it was later revised downward by Tk500 crore
The government has set higher revenue targets from non-National Board of Revenue (non-NBR) tax sources, including duties on narcotics and liquor imports, in the upcoming fiscal year's budget.
For the next fiscal year, the Ministry of Finance aims to collect Tk19,000 crore from various non-NBR sources such as narcotics and liquor duties, motor vehicle taxes, land development tax, sale of non-judicial stamps, and surcharges.
While the original revenue target from non-NBR sources for the current fiscal year was Tk15,000 crore, it was later revised downward by Tk500 crore.
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Specifically, revenue from narcotics and liquor import duties remained at Tk500 crore in both the original and revised budgets for this year. However, the new budget raises this target significantly to Tk850 crore.
Revenue collection from motor vehicle taxes is targeted at Tk2,000 crore for the next fiscal year, up from Tk1,500 crore in both the original and revised budgets of the current year.
The land development tax collection target has also been increased to Tk2,723 crore from Tk2,250 crore for the upcoming year.
From the sale of non-judicial stamps, the government aims to collect Tk11,886 crore, compared to Tk10,000 crore in the original budget of the current year.
Additionally, surcharge revenue is targeted at Tk1,541 crore, more than double the Tk750 crore target in the current fiscal year's original budget.
