Government Collects 104% of Target Internal Revenue

April 21: The government has collected 104 percent internal revenue by the end Chaitra compared to the given target. According to statistics of Inland Revenue Department, the government has collected Rs 172.17 billion internal revenue compared to Rs 165.16 billion target. The revenue collection of the review period increased by 32 percent compared to the corresponding period of the last FY.

In the total collection of internal revenue, the government has collectd income tax amounted to Rs 95.39 billion. “The amount collected is 107 percent of the given target,” said Chandrakala Poudel, spokesperson of the department. The income tax category also includes income tax from other resources, rent tax and interest tax.

Similarly, the government has been able to collect 99 percent of VAT amounting to Rs 43.5 billion. The amount collected is increased by 26 percent compared to the corresponding period of last FY. Likewise, excise duty of Rs 32.36 billion has been collected which is increased by 39 percent compared to the corresponding period of the last FY and 104 percent growth compared to the given target.  

Apart from that, the government has also collected Rs 594.4 million in education service tax which is increased by 31 percent in compared to the corresponding period of last FY and 95 percent of the given target. Likewise, the government has collected Rs 761.1 million in health service tax which is increased by 25 percent compared to corresponding period of last FY and 86 percent of the given target.