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POST TIME: 13 March, 2018 00:00 00 AM
VAT collection under LTU witnesses 30pc growth in Feb
BSS

VAT collection under LTU witnesses 30pc growth in Feb

Revenue collection under the Large Taxpayer Unit (LTU) of Value Added Tax (VAT) witnessed a 30 per cent growth in February of the current fiscal (FY18) as the unit collected Taka 3,563 crore, up Taka 822.67 crore from February of previous fiscal year (FY17), reports BSS.

During the first eight months (July-February) of fiscal year 2017-18 (FY18), LTU collected a total of Tk 18,272.59 crore, up by 19 per cent from Tk 17,229.36 crore of the same period of FY17.

Talking to the news agency, VAT LTU commissioner Md Matiur Rahman said the unit has been possible to achieve higher growth in revenue collection because it has taken a time-befitting strategy and intensified supervision, VAT auditing and recovery of arrears.

He said the LTU realized a significant amount of outstanding VAT from Petrobangla, mobile-phone operators and other establishments.