Revenue worth 20 billion collected as of mid-May

KATHMANDU, JUNE 07:

Revenue collection reached Rs. 19.99 billion as of Mid-may in the current fiscal year along with a collection of Rs. 3.98 billion in the non-tax sector.

Likewise, the month of Baisakh (April/May) recorded an increase in revenue collection by 37.88 per cent. During the period this fiscal year, revenue worth 46.74 billion was collected in compared to Rs. 33.9 billion last year.

Similar growth was also recorded in Value Added Tax (VAT), Excise Duty and Income Tax collection in the period so far this fiscal year in comparison to the previous fiscal year, according to information shared at an evaluation meeting at the Ministry of Finance on Thursday.

On the occasion, Finance Minister Shankher Prasad Koirala directed concerned officials to work as per the action plan and also to start preparing for the budget for the new fiscal year.

Chief Economic Advisor to the Ministry Dr Chiranjibi Nepal lauded the encouraging revenue collection but urged all sides concerned to work to make it sustainable.

Finance Secretary Shanta Raj Subedi called upon the revenue and customs officials to identify the areas of revenue leakage and work to stop it.

Source: THT