Kathmandu, June 21

The government has already collected 93 per cent of the annual revenue collection target of Rs 565.9 billion in the first 11 months of this fiscal.

The revenue collection in the first 11 months stood at Rs 527.39 billion, exceeding the set target by Rs 33.85 billion, as income tax collection surpassed the target substantially. This was on the back of Ncell, a telecommunication service provider, filing outstanding tax dues worth Rs 13.6 billion.

A total of Rs 120 billion was collected under income tax against the target of Rs 99.09 billion in the review period.

Quick look

Heading

Target

Collection

Value added tax

Rs 184.84bn

Rs 144.92bn

Income tax

Rs 99.09bn

Rs 120bn

Customs duty

Rs 94.27bn

Rs 102.63bn

Excise

Rs 71.95bn

Rs 77.76bn

Health service tax

Rs 0.92bn

Rs 0.8bn

Education service tax

Rs 0.68bn

Rs 0.67bn

Registration fees

Rs 13.34bn

Rs 17.18bn

Vehicle tax

Rs 7.16bn

Rs 8.085bn

Other tax

Rs 8.61bn

Rs 14.66bn

Non-tax

Rs 48.67bn

Rs 40.69bn

Though overall revenue collection exceeded the target, there was still a shortfall under value-added tax (VAT), a major source of revenue for the government. The government collected Rs 144.92 billion from VAT against target of Rs 148.84 billion in the review period, as per the Revenue Division under the Ministry of Finance (MoF).

Similarly, customs tariff and excise collection also surpassed the target by Rs 8.36 billion and Rs 5.81 billion, respectively, to stand at Rs 102.63 billion and Rs 77.76 billion. A shortfall in education and health service tax was witnessed in the review period as collection under these headings stood at Rs 0.67 billion and Rs 0.8 billion against the target of Rs 0.68 billion and Rs 0.92 billion, respectively. Likewise, Rs 8.08 billion was collected through vehicle tax against target of Rs 7.16 billion.

Registration tax collection also exceeded target to stand at Rs 17.18 billion against target of Rs 13.34 billion as transactions of land boomed after the earthquake. The government collected Rs 14.66 billion from other tax heading and Rs 40.69 billion under non-tax heading. The government missed non-tax revenue collection target, which was set at  Rs 48.67 billion for the review period.