Government collects over Rs 24b revenue

Himalayan News Service

Kathmandu, April 20:

In the current fiscal year for 2004-05, various custom offices of the government have collected over Rs 24 billion in customs duties and other taxes.

As per the initial target of the government, the collection in customs duties and taxes is higher by Rs 2.12 billion, informs the customs department.

According to the department review, the growth rate in revenue collection during the same period has been 10 per cent. A press statement by the department states that in the nine months of the current fiscal, Rs 10.82 billion has been recovered from customs revenue side, which was only Rs 10.66 billion during the same period last year. The increment, compared to last year, stands at over Rs 160 million. Similarly, in the categories of VAT and excise duty collection, the government has collected over Rs 10.98 billion. During the same period the last year, revenue collection in VAT and excise duties stood at Rs 9 billion which is higher.

Besides VAT, customs revenue and excise duties, the government has collected Rs 2.19 billion from other duties such as local development tax, road reform taxe and other taxes. This year, this kind of revenue collection recorded an increment of over Rs 30 million, says a customs department press statement issued today.

The increment in revenue collection is attributed to effective implementation of Customs Reform Project and effective monitoring coupled with promptness shown by business sector, claims the Customs Department Office.

Various measures such as weekly hearings on the problems faced by customers, arrangement of a help desk at customs administration and introduction of token system are being carried out. Similarly, the government is taking initiatives to select best customs office every month to encourage them and boost revenue collection, hold stakeholders meet every two months to facilitate trade and find out about customs-related problems.