Biratnagar, November 10 : The Inland Revenue Office in Biratnagar collected Rs 1.63 billion in revenue against the target of Rs 1.94 billion in the first three months of the current fiscal year. The Office achieved just 84 per cent of its target of the three month in revenue collection.
Chief of the Office, Bimal Sapkota, said that the reduction in industrial output and decreased volume in the trade of liquors resulted in the low revenue collection.
In the review period, the Office achieved 111 per cent progress in income tax and 137 per cent in value added tax (VAT) but excise duty was collected just 50 per cent of its target.
Of the amount, Rs 548.8 million was collected in income tax, Rs 571.5 million in VAT and Rs 516.4 million was collected in excise duty in the first three months of fiscal year 2020/21. Sapkota shared that the third month of the review period achieved almost 97 per cent of its target by collecting Rs 630.1 million in revenue. RSS
