KATHMANDU, Nov 6: The number of individuals who have obtained a personal Permanent Account Number (PAN) has surpassed 161,000 as of the first quarter of the current fiscal year 2024/25. According to the Inland Revenue Department (IRD), a total of 161,713 individuals had registered for a personal PAN by mid- October (Ashoj end).
In addition, the number of businesses, companies, and institutions that have acquired PANs during the same period has reached 29,396. The department also reported that 6,501 businesses have registered for Value Added Tax (VAT), while 3,287 companies have registered for excise duty. Furthermore, 737 businesses and firms have obtained a threshold PAN.
Diversifying Government Revenue
Likewise, the IRD conducted monitoring of over 1,000 businesses and companies in the first quarter of the fiscal year. Among them, 211 illegal alcohol production and sales businesses were raided.
In terms of revenue, the department collected a total of Rs 113.08 billion in internal revenue in the first quarter. This amounts to 84.23 percent of the total revenue target set for the period, which is Rs 134.25 billion.
During the review period, Rs 41.12 billion was collected in income tax, while VAT collection stood at Rs 31.42 billion. Excise duty generated Rs 26.19 billion, and interest tax brought in Rs 8.73 billion. Additionally, Rs 541.9 million was collected from house tax.
