According to a press release issued from Ministry of Finance (MoF), Krishna Hari Baskota, secretary of the Ministry said that the country was successful in collecting Rs 190.8 billion in the first ten months of the current fiscal year. “We have successfully collected 98.7 percent of the total target of revenue collection,” reads the release.[break]
Baskota, who collected statistics from the major customs point of the country over the phone, claimed those points had performed well to meet the target. “Excise duty, VAT and income tax are the major contributors to achieve the target,” press release said.
The ministry projects that the contribution of revenue will be 16 percent in the gross domestic product (GDP) this fiscal year, up 0.7 percent point from last year. “We have set a target to make this 20 percent of the GDP within 3 to 5 years,” said secretary Baskota.
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