Revenue collection 18 percent less than target in first two months of current FY

Published On: September 19, 2022 06:20 AM NPT By: Republica  | @RepublicaNepal


KATHMANDU, Sept 19: The government fell short of its targeted revenue collection by 18 percent in the first two months of the current fiscal year.

The Inland Revenue Department (IRD) and the Department of Customs (DoC) set a target of revenue collection of Rs 165.88 billion for the period between mid-July and mid-September. However, these tax authorities could collect only Rs 135 billion in the two months. The revenue collection amount in the review period this year was 12 percent less compared to that of the same period of the last fiscal year.

The IRD records show that the department met 90 percent of its revenue target in the review period this year. The department collected Rs 67.91 billion in revenue against the target of Rs 75.60 billion.

The revenue collection by the DoC appeared poor compared to the IRD. During the period, the DoC collected only Rs 67.42 billion against the target of Rs 90.28 billion. This made out 74 percent of achievement on the side of the DoC.

According to a DoC official, the fall in customs revenue collection was due to the fall in imports due to the government’s restriction measures. In the review period last year, the department collected Rs 87.34 billion, about Rs 20 billion more than the amount this year.  


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