KATHMANDU: The Inland Revenue Department (IRD) has reported a notable increase in revenue collection over recent months.
According to IRD statistics, revenue collection until June 14 in the current fiscal year totaled Rs 41 billion and 190 million, marking an 11.30% increase from the Rs 37 billion collected during the same period last fiscal year.
In the past 11 months leading up to June 14, 2024, the IRD collected Rs 448 billion, reflecting a 9.64% rise compared to the Rs 408 billion collected during the corresponding period in the previous fiscal year.
IRD Director General Shiva Lal Tiwari noted that revenue collection until June 14 this fiscal year increased by Rs 40 billion compared to the previous fiscal year.
Income tax contributed Rs 232 billion (including rent and interest), while VAT (internal) contributed Rs 112 billion and excise duty contributed Rs 95 billion to the total revenue collection.
An additional Rs 8 billion was collected from sources related to health services, education, and other sectors.
As of June 14, revenue collection has reached 78.5% of the total targeted revenue, and efforts will continue to intensify revenue collection to meet the fiscal year’s target by July 15.
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