Finance Minister Amir Khosru Mahmud Chowdhury has presented 11 reasons for the failure to meet revenue targets in the Parliament. These reasons include reduced purchasing power, business losses, decreased industrial production, and reduced profits. The minister provided these explanations in response to a question from reserved women's seat MP Nilofar Chowdhury.
The revenue target for the 2024-25 fiscal year was set at 463,500 crore Taka, but only 370,875.04 crore Taka was collected. For the 2025-26 fiscal year, the target was 503,000 crore Taka, with a collection of 326,928.16 crore Taka by April, achieving 75.77% of the target.
The minister noted that the primary reasons for not meeting the 2025-26 fiscal year target included political changes, supply chain disruptions, high production costs, and economic downturns. However, automation and efforts to prevent tax evasion by the National Board of Revenue (NBR) have helped mitigate some of the shortfall.
Other factors contributing to the failure to meet revenue targets include political instability, lack of investment, stagnation in import-export activities, reduced production and supply, and the closure of several institutions providing taxes and supplementary duties.
The import of goods subject to 25% and 10% duty rates decreased by 18% and 37% respectively compared to the previous year, further impacting revenue collection. Additionally, decisions to reduce petroleum product duties to stabilize fuel prices, withdrawal of VAT on LNG imports, and reduced luxury car imports have also affected revenue.
