IRD reports 11.3 percent revenue growth

Published On: June 21, 2024 07:59 PM NPT By: Republica  | @RepublicaNepal


IRD reports 11.3 percent revenue growth

KATHMANDU, June 21: The Inland Revenue Department (IRD) has reported an 11.30 percent increase in revenue collection, totaling Rs 41.19 billion as of June 14 of the current Fiscal Year (FY) 2023/24, compared to Rs 37 billion during the same period last fiscal year.

Over the past 11 months, the IRD collected Rs 448 billion, a 9.64 percent rise from the Rs 408 billion collected in the corresponding period of the previous FY.

IRD Director General Shiva Lal Tiwari said that income tax contributed Rs 232 billion, VAT (internal) Rs 112 billion and excise duty Rs 95 billion. An additional Rs 8 billion came from health services, education and other sectors.

Revenue collection has reached 78.5 percent of the annual target, with ongoing efforts to meet the current FY’s goal by July 15.

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