Revenue collection below target
KATHMANDU, DECEMBER 20 : In the first five months of the current fiscal year 2022/23, the amount of revenue collection has been 13.63 percent less than the set target. According to the Internal Revenue Department (IRD), it had set a goal of collecting internal revenue equal worth Rs. 174.37 billion but during this period, only Rs. 150.5 billion was collected.
During the same period, the income tax collection, value-added tax (VAT) collection and excise duty collection were 19.39 percent, 17.53 percent and 2.1 percent respectively than the set targets was 20 percent less than the set targets. However, the collections of health care and education taxes exceedeed the set targets.
According to IRD Director, Raju Prasad Pyakurel, says that the revenue collection, as a whole, was negative affected by the liquidity crisis in banks, the non-availability of working capital loans, restrictions on the import of goods, and low capital expenditure of the government.
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