KATHMANDU, May 22: The Inland Revenue Department (IRD) collected revenue of Rs 377 billion in the first 10 months of the current fiscal year, which was around 90 percent of the amount targeted for the given period.
During mid-July 2021 and mid-May 2022, the IRD had set a target to collect Rs 420.18 billion in revenue. Although it missed the target during the review period, the revenue collection however was 10 percent more than the amount of the same period last year. In the first 10 month of 2020/21, the IRD generated Rs 343.43 billion in revenue collection.
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In the review period, the IRD collected Rs 197.90 billion in VAT, income tax and excise duty, which was 88 percent of the projected amount. Similarly, the tax collection on house rent accounted for Rs 2.22 billion against the target of Rs 3.26 billion.
The revenue collection on health and education, however, surpassed the target amount. In the review period, the government collected revenue of Rs 5.32 billion from health services, which was almost double of the targeted amount of Rs 2.80 billion.
Similarly, the revenue collection from education stood at Rs 893.57 million against the target of Rs 878.85 million.
