Print Edition - 2015-07-25 | MONEY
Bhairahawa Customs tops revenue target
Jul 24, 2015-
The Bhairahawa Customs Office surpassed its revenue collection target slightly in the last fiscal year even as trade and business activities at most of the other customs points shrank following the April 25 earthquake.
Revenues amounted to Rs25.97 billion against the goal set by the government of collecting Rs25.92 billion from the customs office in the fiscal year 2014-15.
“We were greatly concerned that we would fall short of the revenue collection target due to the disaster. However, trade and business activities were good during the period following the earthquake,” said Lavanya Dhakal, chief of the customs office.
Revenue collection was hit badly as imports remained at zero for more than a month after the earthquake and government income from import duty dried up. Besides, large quantities of relief materials were shipped through the customs point exempt from import duty and taxes. The government had waived customs duty on imported relief materials intended for distribution to earthquake victims.
The customs office, which used to earn revenues totalling Rs80 million daily prior to the tremor, saw incomes plunge to Rs20 million daily after the earthquake. “The office exceeded its revenue collection target against all odds,” said Dhakal.
Revenues amounted to Rs2.49 billion during the period mid-March to mid-April 2015. From mid-April to mid-May, the collection fell to Rs644.9 million.
Dhakal said that shipments of marble and tile, the major products imported through here, dropped sharply.
Meanwhile, the office collected Rs11.5 billion in VAT, Rs2.67 billion in excise duty and Rs310 million in road tax. Iron blade, rice, diesel, polythene raw material, soybean oilcake, clinker, motorcycle, onion and petrol were the top import products passing through Bhairahawa Customs.
Published: 25-07-2015 08:29