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| Kathmandu, Wednesday September 10, 2003 Bhadra 24, 2060. |
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Revenue collection up18 pc in
first month
Post Report
KATHMANDU, Sept 9 : The revenue collection,
accruing out of customs, Value Added Tax (VAT), excise duty and non-tax sources, recorded
a significant growth of 18.1 percent during the first month of the current fiscal year
2003/04.
According to revenue figures issued by the
Ministry of Finance (MoF), the government mobilised a total of Rs 3.20 billion during the
period. Increased business activities during the cease-fire period have been attributed to
better revenue collection. During the same period last year, the revenue mobilisation had
declined by 7 percent.
Of the total revenue mobilised during the month,
Rs 2.88 billion was collected as tax revenue. This was an increment of 10.7 percent as
compared to that of the like period last year.
Likewise, non-tax revenue collection stood at Rs
317.77 million, which was a massive increment of 302.5 percent over the collection
recorded during the first month during the last fiscal year. The contribution of tax
revenue accounted for 90.1 percent, while that of non-tax revenue stood at 9.9 percent.
Despite the overall increment in revenue,
customs revenue mobilisation during the month declined by 2.3 percent as compared to the
revenue collection of the corresponding period of the previous year. According to the MoF
statistics, the revenue collection from customs stood at Rs 917.4 million during the month
and this comprised almost 29 per cent of the total revenue.
On the VAT front, Rs 1.05 billion was collected
during the first month of 2003/04. While the contribution from VAT was 33 percent to the
total revenue mobilisation, the collection was higher by 4.6 percent against VAT collected
for the month last fiscal year.
Revenue collection under the ‘taxable
sources’ too recorded a significant growth of 39 percent. During the period, a total
of Rs 426.9 million revenue was raised through taxable sources, and this was 13.3 percent
of the total revenue.
The statistics further revealed that the revenue
collection from the excise duty amounted to Rs 293 million, which was higher by 2.6
percent over that of the like period last year. Its contribution to the total revenue was
9.2 percent.
While revenue collection from vehicle tax was Rs
62.4 million, an increment of 58.5 percent compared to the amount mobilised during the
same period last year, revenue from registration charges was Rs 125.5 million, an
increment of 43 percent over the revenue mobilisation of the similar period of the last
year.
Vehicle tax and registration charges contributed
2 percent and 3.9 percent of the total revenue mobilisation respectively.
Likewise, the government mobilised revenue of Rs
317.7 million from non-tax revenue sources during the month. This figure was an increment
of 302.5 percent than that mobilised during the same period last year.
Meanwhile, the total revenue mobilised during
the month stood at 5.1 percent of the annual target and 99 percent of the monthly target.
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