Fin Min directs to meet revenue collection objectives

KATHMANDU:

Finance Minister Shanker Prasad Koirala on Sunday directed the top officials at the Ministry of Finance (MoF)to achieve the set objectives of revenue collection.

At a meeting organised to review revenue collection in the month of Bhadra (August 17-September 16) today, Minister Koirala also stressed on the implementation of programmes introduced in the 2013/14 budget and the Financial Ordinance.

At the meeting, it was shared that 94 per cent of the total revenue collected in the month was tax, whereas six per cent was non-tax revenue.

The value-added tax (VAT), customs, income tax and excise duty contributed 36, 22, 14 and 14 per cent of the total revenue respectively.

The revenue collected in this month is 22.76 per cent more than that collected in the same month last year.

On the occasion, Finance Secretary Shanta Raj Subedi directed the officials to monitor bill issuance trend, probe credit distribution and speed up investigation into the money laundering cases.

High officials of the Finance Ministry including department heads and Kathmandu-based offices under the MoF presented reports on the progress of their respective offices in the month and future plans at the meeting.

Source: THT