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Govt mobilizes Rs 24.67b in revenue

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KATHMANDU, Oct 7: The government mobilized Rs 24.67 billion, six percent higher than the target set for the period, in revenue during the month ending mid-September.

Of the total collection, Rs 23.26 billion was raised as tax revenue while the remaining Rs 1.41 billion as non-tax revenue.



According to the Ministry of Finance, collection of customs duty was up by 7.6 percent to Rs 4.95 billion, while VAT collection increased by 6.6 percent to Rs 7.45 billion compared to the figures of the same month last year. Excise duty collection posted an impressive rise of 21.4 percent to Rs 3.4 billion.[break]



Similarly, mobilization of income tax increased by 28 percent to Rs 2.48 billion. Registration fee and vehicle tax were also up by 23.75 percent and 0.27 percent compared to the figure recorded during the same month last year.



Collection under non-tax heading was up 21.5 percent to Rs 1.41 billion.

Contribution of VAT and customs duty in total collection stood at 36 percent and 22 percent, respectively. Similarly, income tax, excise duty and non-tax, respectively, contributed 14 percent, 14 percent and 6 percent to the total revenue. Registration fee and vehicle tax each contributed 2 percent each. Others tax made up 4 percent of total revenue collection during the review month.



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