Revenue collection soars to Rs 98.67 billion
The revenue collection by the government during the first nine months of
this year has touched Rs 98.67 billion. The figure is 39 percent more than
the collection made during the same period last year.
In fact, the collection to the tune of Rs 98.67 billion has exceeded the
target itself by 6 percent.
The government has attributed the encouraging collection to the reforms
and performance-based incentive package initiated in the revenue
administration.
According to media reports, schemes like voluntary declaration of income
sources (VDIS) and concessional house-land rental tax payment scheme have
helped to generate additional Rs 2 billion.
Of the total revenue, Rs 82.19 billion was reaped in the form of taxes,
which was 36 percent more than the collections during the same period last
year.
Collections from non-tax revenues stands to the tune of Rs 16.47 billion,
thus exceeding the same recorded in first nine months of the last fiscal
year by 58 percent.
In the same vein, income tax collection soared by about 49 percent during
the period and touched Rs 19.20 billion. The collection from income tax
well exceeded the target by nine percent.
The government mobilized a whopping Rs 27.38 billion in revenues from VAT.
This mobilization is 23 percent more than what the government collected
during the same period last year.
Likewise, the government generated Rs 18.44 billion in the form of customs.
The amount is 25 percent more than what the government collected during
the same period.
Encouragingly, revenue collections from excise duty stood at Rs 10.57
billion, an increment by 45 percent in comparison with collections
recorded during the same period last year.
Registration charges and vehicle tax also contributed Rs 4.88 billion and
Rs 1.70 billion to the revenue coffer.
The total collections recorded during the first nine months constitute
about 70 percent of the target set for the year.
"The way the government is lagging behind in capital expenditure is
depressing. However, it is doing well in revenue collection," according to
experts. nepalnews.com nd Apr 29 09
