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Tax collection up 42 percent

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Kathmandu, January 25, 2017: While the government has been failing to spend its development budget, it has excelled in tax collection.

According to the Inland Revenue Department (IRD), tax collection in the first half of 206/17 increased by 42 percent to Rs 112 billion. The figure is 106 percent of the target to raise Rs 106 billion by mid-July of the current fiscal year set by the Ministry of Finance, according to the IRD.

The government mobilized Rs 61.88 billion as income tax, Rs 28.60 billion as value added tax (VAT), Rs 21.08 billion as excise duty, Rs 384 million as education service tax and Rs 528 million as health service tax.

Speaking at a half-yearly review program organized at the IRD on Monday, Chuda Mani Sharma, director general of the IRD, directed the officials to focus more on collection of rent which has seen sluggish growth in the review period.

Likewise, Rajendra Prasad Poudel, deputy general manager of the IRD, directed taxmen to monitor excise duty stickers used on alcohol and tobacco products.