Revenue collection up 29 percent

Published On: September 25, 2016 10:20 PM NPT By: Republica  | @RepublicaNepal

KATHMANDU, Sept 25: Total revenue collection increased by 29 percent in the first two months of the Fiscal Year 2016/17, compared to the same period in the last fiscal year.

The government mobilized Rs 28.93 billion in the review period, compared to Rs 22.37 billion in the first two months of 2015/16.

Inland Revenue Department said that the collection is 101 percent of the two-month target set for this fiscal year.

Income tax and value added tax (VAT) mobilization stood at Rs 12.21 billion and Rs 10.45 billion, respectively, while the government mobilized Rs 5.91 billion from excise duty.

Collection from VAT fell short of the target, according to revenue officials.

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