Customs offices exceed revenue collection target
KATHMANDU, APR 23 -
Revenue collection at the country’s customs offices has surpassed the target in the first nine months of the fiscal year due to improved income through value added tax (VAT).
The customs offices took in Rs 75.02 billion against the target of Rs 72.29. VAT and customs duty collection reached 106.42 percent and 101.68 percent respectively. However, excise duty collection reached 99.87 percent.
A senior official of DoC said that the major reason behind the rise in revenue collection this year was an appreciation of the US dollar compared to the Nepali rupee making imports more expensive.
DoC officials said that introduction of the Simplified Declaration Form (SDF) system during the later months of the last fiscal year also boosted revenue collection. Another reason for the rise was the higher customs valuation of imported goods.
The DoC enforced the SDF strictly at major customs points which helped control smuggling, resulting in the collection of an additional Rs 300 million, according to DoC officials.
The DoC offiicial said that collection of excise duty fell short of the target as automobile imports were down. “Imports of automobiles, liquor and cement clinker are the biggest contributor of excise duty, and they have dropped severely,” said the official.
According to the DoC, six out of the 10 imports that fell resulting in lower customs duty collection are related to the automobile sector. The contribution to revenue collection from the import of jeeps, cars, vans, bus and truck chassis, mini buses, motorcycles, trucks, mini trucks and pickup vans all declined in the first nine months of the fiscal year. Other imports recording a drop are sugar, brown cement, betel nuts and malt spirit.
Shyam Dahal, director of the DoC, said that there was an increase in the import of readymade garments, high speed diesel, LP gas, petrol, coal and tobacco. Raw soybean oil, steel products and rubber and plastic shoes also contributed to revenue growth during the period. According to him, revenue collection during the first nine months has given a positive picture as the pattern indicates fulfilment of the annual target by the government.
As in past years, the Birgunj Customs Office was the highest revenue collector during the period. It took in Rs 36.21 billion against the target of Rs 35.68 billion.
Meanwhile, Rajbiraj Customs collected Rs 49.5 million, a giant leap of 892.44 percent from its target of Rs 5.5 million.
Similarly, the customs offices in Pashupatinagar, Mechi, Biratnagar, Janakpur, Sarlahi, Siraha, Gaur, Bhairahawa, Krishnanagar, Tatopani, Tribhuvan International Airport, Mahakali and Kanchanpur have exceeded their revenue collection target.
Source: The Kathmandu Post
