Revenue collection up in 6 months of current fiscal year

Published On: January 24, 2017 02:16 PM NPT By: Republica  | @RepublicaNepal

KATHMANDU, Jan 24: Revenue collection until January 17 of the current fiscal year has increased by 42 per cent in the corresponding period of the last fiscal year.

The revenue collection in the period of the current fiscal year was Rs 112 billion as against the target of Rs 106 billion, Director General of the Inland Revenue Department, Chudamani Sharma, said.

According to the Department, Rs 61.89 billion was collected towards income tax, Rs 28.60 billion towards VAT and Rs 21.08 billion towards excise duty.

Similarly, revenue of Rs 385 million was collected towards education tax and Rs 528.5 million towards health tax. The revenue collection towards education service was 88 percent and towards health service tax 89 percent more than the target.

The rate of increase during the period in review is 147 percent in income tax, 125 percent in VAT, 160 percent in excise duty, 131 percent in health service tax and 131 percent in education service tax, the Department stated. RSS 

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