BIRATNAGAR, Sept 24: The Biratnagar Customs Office has reported a revenue collection of just 56.81 percent of the target for the month of August in the fiscal year 2023/24, falling significantly short of the target.
KATHMANDU, Sep 1: About a dozen casinos are in debt to the government, owing more than Rs 3.5 billion in revenue. Recent data from the Hotel Branch of the Department of Tourism (DoT) reveals that these casinos collectively owe the government a substantial sum of 3.6 billion 1.4 million rupees, as of the last fiscal year in 2022/23.
KATHMANDU, Aug 24: The Kathmandu Metropolitan City (KMC) collected revenue of Rs 654.20 million in the first month of the current fiscal year, which was 43.58 percent more than the amount collected during the same period of the last fiscal year.
KATHMANDU, May 19: The Birgunj Metropolitan City has collected Rs 360 million in revenue in the first 10 months of the current fiscal year under 26 different headings. Birgunj is the only Metropolitan City in Madhesh Province.
KATHMANDU, May 16: Due to the managerial weakness of Kathmandu Upatyaka Khanepani (KUKL), the state-owned utility is losing revenue worth millions due to failure in billing at the customers' houses for distributing water from Melamchi through a new pipeline.
KATHMANDU, May 9: As the weather is favorable for climbing in spring, a considerable number of climbers come to Nepal from all over the world. People climbing various mountains, including Mount Everest, also contribute to government revenue.
KATHMANDU, April 14: The government has witnessed a 2.9 percent increment in expenditures than incomes in the third quarter of the current fiscal year, 2022/23. During the period, the budget deficit crossed the Rs 218 billion mark, according to the data with the Financial Comptroller General Office.
JUMLA, Feb 5: According to the Inland Revenue Office, Jumla, the revenue collection of Jumla, Kalikot and Mugu is disappointing. Statistics show that only 34.65 percent revenue was collected in these three districts during the period of six and a half months.
KATHMANDU, Jan 11: The Special Court has convicted the then Deputy Secretary Anand Keshari Pokharel, Deputy Superintendent of Police Navraj Thapa, Police Inspector Murari Mishra and sentenced them to imprisonment and fines in the case of revenue leakage and alteration of driver's license results.
KATHMANDU, Nov 25: Nepal Electricity Authority (NEA) Managing Director Kulman Ghising has said that within the current financial year, Nepal's hydropower production capacity will reach 3,000 megawatts.
BAGLUNG, Oct 29: The Baglung District Traffic Police Office has collected Rs.1.8 million in revenue from the penalty imposed against the drivers who violated traffic rules. The amount was collected in the three months of the current financial year.
BUTWAL, August 2: Bhairahawa Customs, the second largest in the country, has collected 10 percent less revenue than the target this time. In the last fiscal year 2078/79, the office collected over Rs 115 billion in revenue. This amount is 90.94 percent of the revenue collection target set for the office in the last fiscal year.
KATHMANDU, August 2: Revenue generated by Civil Aviation Authority of Nepal (CAAN) has increased by 16.67 percent in the previous fiscal year 2021/22. The CAAN has made an income of Rs 7.44 billion in the fiscal year along with a rise in airport fees.
KATHMANDU, June 27: More than Rs 234.93 billion has been collected as revenue from the two customs offices in Birgunj in the first 11 months of the current fiscal year. The amount has been raised through the Birgunj Customs Office (BCO), the country's largest commercial port, and the Dryport Customs Office, which is connected to the international waterway transit network through the Indian Railways.
Debt trap has been a topic of concern in Nepal, as a significant portion (approximately one tenth) of the total revenue needs to be allocated annually for paying the interest and principal to the foreign lenders.
KATHMANDU, August 24: Nepal Oil Corporation (NOC) has contributed Rs 97 billion in revenue to the government. While buying fuel from the Indian Oil Corporation (IOC) and selling it in the domestic market, the NOC provided revenue to the government under various headings.
UDAYAPUR, July 25: The Province 1 Police Office, Biratnagar, has stated that it has collected more than Rs 400 million as revenue while prosecuting those involved in criminal activities. A total of Rs 407.842 million has been collected from 7,384 cases filed in the fiscal year 2020/21.
KATHMANDU, April 14: With just three months left for the current fiscal year to end, the government has been able to meet only 53.46 percent of its annual revenue target, following a slump in economic activities amid the ongoing threat of COVID-19.
KATHMANDU, April 4: The Ministry of Finance has asked government agencies to halt expenses in a number of activities, targeting to manage the financial resources in the priority areas due to the impact of COVID-19.
BIRGUNJ, Sept 19: The Indian customs office at Kolkata port has given 84.33% subsidy for Nepali cargo duty insurance. The office has a provision to charge the importers duty insurance equal to the risk on revenue while importing goods via India.
SAN FRANCISCO, July 26: Twitter Inc (TWTR.N) posted a better-than-expected second-quarter revenue on Friday and an uptick in daily users who see advertisements on the site, driven by changes to show users more relevant content.
KATHMANDU, July 25: The Metropolitan Traffic Police Division (MTPD) has collected revenue of Rs 310.56 million in a fine from the Kathmandu Valley in the last fiscal year 2018/19 for the violation of traffic rules.
Worldwide cancer drug sales are already way ahead of those of other drugs and the revenue generated by them is expected to grow even larger by 2024. This is according to a report recently released by consultancy Evaluate, which analyses trends in the pharmaceutical sector.
MUGU, June 4: The local authorities of Mugu have collected Rs 10 million in revenue from entry fee charged to yarsagumba collectors in the district. People from the district as well as outside have reached the highlands of Mugumkarmarong Rural Municipality of Mugu to collect the prized fungus which is found in abundance in the district.
BIRGUNJ, May 25: Revenue collection by Birgunj Customs Office has seen a shortfall by 13% against the target till mid-May. The office, which generates the largest volume of revenue among all customs offices of the country, mobilized only Rs 120 billion out of the targeted Rs 139 billion, according to records at the office.
KATHMANDU, May 25: The Revenue Advisory Committee has presented its report to the Minister for Finance, Yuba Raj Khatiwada, providing recommendations to the government on revenue policy and programs, laws and regulations, reforms, tax rates, and other measures to be introduced in the budget for the upcoming Fiscal Year 2019/20.
TIKAPUR, May 9: Bal Bahadur Rawat of Janaki Rural Municipality-1, Durgauli was obliged to make rounds of the Land Revenue Office (LRO), Tikapur, for five days to freeze the transaction of his land. Similarly, it has been two days since Sher Bahadur Budha of Bardagoriya Rural Municipality-1 has been visiting the LRO for the transfer of his land to his brother.
The present economic model of Nepal has a number of interesting structural characteristics. First, it focuses on imports. The government gets most of its revenue from import which is the basis for financing public expenditure, mostly regular expenditure necessary for the functioning of the state. In an import-based revenue structure, there is an embedded incentive to maintain luxury imports.
KATHMANDU, March 26: The Department of Tourism has collected revenue of around Rs 40 million in four days from the mountain climbing permits. The Department has been issuing the permit for spring since March 23.