Revenue collection up 19 percent in first 11 months

- POST REPORT, Kathmandu
Revenue collection up 19 percent in first 11 months

Jun 25, 2014-

Revenue collection during the first 11 months of the current fiscal year has reached Rs 308.21 billion recording a rise of 19.71 percent year on year, said the Finance Ministry. In order to meet its collection target for the year, the government will now have to collect Rs 46.29 billion during the 12th month.

Tax revenue accounted for Rs 270.24 billion while non-tax revenue stood at Rs 37.96 billion out of the total income, according to the ministry.

As of mid-June, the government had collected value added tax (VAT) worth Rs 90.96 billion followed by customs duty amounting to Rs 61.31 billion. Income tax collection reached Rs 61.56 billion while excise duty collection came to Rs 40.67 billion. The income from registration fees, vehicle tax and other taxes stood at Rs 14.9 billion.

Among different types of taxes, VAT accounted for 30 percent of total revenues followed by customs duty and income tax making up 20 percent each and excise duty accounting for 14 percent. Non-tax revenues including registration fees and royalties came to 13 percent of the total revenue collection.

Published: 26-06-2014 09:16

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