Revenue target met

KATHMANDU: Revenue worth Rs 247.47 million has been raised in the last fiscal year. The target amount was exceeding the target of Rs 214. 03 million. The collected amount is 116 per cent higher than the target, according to the Department of Internal Revenue. Similarly, income taxes worth Rs 97.38 million was raised, which exceeds the target of 80 million. The collected amount is up by 122 per cent of the target. There is an increment in VAT collection by 108 per cent. In the house rent tax was also collected more by 111 per cent. — RSS

Shopping bonanza

KATHMANDU: Hyundai Electronics Shopping Bonanza, organised by Suraj Arcade Trade Associations, was announced here in the premises of Suraj Arcade on Monday. Electronic products worth over Rs 60,000, were given away to customers on the occasion. Hyundai Electronics Shopping Bonanza was started from this year. Various Hyundai electronics products like television, DVD player, vacuum cleaner and rice-cooker are awarded to the lucky winners every month. — HNS

‘Control leakage’

KATHMANDU: Ramesh Shrestha, immediate past president of Nepal Beverage and Cigarette Industry Association (NBCIA) said that if the government could control leakage, the target of collecting Rs 78 billion revenue would be possible. “The establishing of special unit in the premises of ministry of finance to oversee customs billing will help in generating more revenues,” the press statement said adding that facilitating for customs collection and increase in income tax slab are some of the positive aspects of budget. It is good to expand tax net by increasing the number of taxpayers along with making ‘tax administration transparent’, the release read. — HNS