Tax collection exceeds target

Kathmandu, August 11:

The government has been successful in collecting revenue more than its target. The increase in tax collection is contributed to the awareness campaigns that Inland Revenue Department (IRD) is organising regularly.

According to the data provided by the IRD, it has been able to collect Rs 173 million as income tax during the fiscal year 2007-08, a 21 per cent increase compared to the last fiscal

year. The collection is above 100 per cent of its target, said IRD.

Similarly, it has been able to collect Rs 70 million as house rent tax that is also an increase by 21 per cent compared to the last fiscal year. “However, its only 96.18 per cent of its target,” said the department. The customs revenue has also increased by 21 per cent to Rs 112.1 million. Whereas, VAT collection is also more than 105 per cent of its target to Rs 311.54 million.

The revenue department has started e-PAN system under which an organisation or an office can get the PAN number through internet. About 96 organisations have already taken permission to be listed under e-PAN, informed the office. “The department has collected Rs 2.83 billion through e-TDS system,” the IRD said, adding that the system has been introduced for the convenience of the tax payers. So that they can directly file their tax from their offices.