The government is expecting domestic tax collections to exceed the budget estimate by nearly Rs 4 lakh crore in the current fiscal owing to higher income tax, customs duty, and GST collections.
The revenue collection growth decelerated to 12.63 per cent in Bangladesh in the first quarter of the current fiscal year, driven by the cost-of-living crisis at home and abroad, narrowing the fiscal space for the government, official figures showed.
Finance minister Nirmala Sitharaman on Sunday said that the trust-based taxation system introduced by the government has resulted in improved collections and an increase in the number of return filings.