Rs 19.14b revenue in first month of current fiscal year
KATHMANDU, Aug 25: A total of Rs 19.14 billion revenue, some 27.54 per cent more than the same period in last year, was collected in the first month of the current fiscal year, according to a monthly Treasury Position released by the Nepal Rastra Bank.
Of the amount, Rs 18.25 billion was collected from tax revenue while the remaining amount was received from the non-tax revenue. Only Rs 15.13 billion was collected during the review period in the last fiscal year.
Secretary at the Ministry of Finance Krishna Hari Baskota said that active efforts of the Ministry and subordinates, reforms in revenue administration and positive vibes in the business community contributed to the rise in revenue collection.
According to Baskota, Rs 7.93 billion was collected from Value Added Tax (VAT), contributing 20.3 per cent rise than same month of the last year fiscal.
However, Baskota said that revenue from vehicle tax, registration charges and some other topic was not collected as per the target.
Despite the country´s economy heading to the positive direction, political deadlock should be brought to an end for overall economic development, Baskota said.