Kathmandu, April 19

The Inland Revenue Department (IRD) has collected revenue worth Rs 172 .17 billion in the first nine months of this fiscal, exceeding the given target of Rs 165.16 billion.

IRD exceeded revenue collection under income tax and excise headings. However, it missed collection target on major tax heading, value added tax (VAT), and education and health service tax. IRD collects around 42 per cent of government revenue.

Issuing a statement, IRD said that revenue collection increased by 32 per cent as compared to same period of the previous fiscal year.

IRD collected Rs 95.4 billion from income tax, Rs 43.05 billion under VAT, and Rs 32.36 billion from excise in review period against collection target of Rs 89.27 billion, Rs 43.31 billion and Rs 31.07 billion, respectively.

IRD collected 86 per cent and 95 per cent of given target under health and education service tax at Rs 761.13 million and Rs 594.45 million, respectively.