Dhaka, Jan. 30 -- Collection of value added tax (VAT) from 17 large banks fell nearly 7.0 per cent or Tk 1.53 billion short of target for the first half of the current fiscal year (FY2022-23).

Until December 2022, the large taxpayers unit (LTU) under the VAT wing of the National Board of Revenue (NBR) collected Tk 20.87 billion during July-December period of FY '23 against the period's target of Tk 22.41 billion.

In the same period last year, the collection stood at Tk 18.76 billion, according to latest data from the NBR.

Officials attributed the less-than-expected earnings to a sort of uncomfortable situation in the banking sector amid allegations of irregularities that eroded depositors' confidence and discouraged people to seek serv...