Revenue over Rs 3 billion collected in Bhadrapur

17 July, Kathmandu : The Inland Revenue Office, Bhadrapur has collected revenue of Rs 3.21 billion in the fiscal year 2080/81 BS.

The office had raised revenue amounting to Rs 307 million from mid-June to mid-July. As informed, the office has been able to collect revenue over Rs 195.29 than the fiscal year 2079/80 BS.

Information Officer at the Inland Revenue Office, Bhadrapur, Bhim Prasad Acharya, said revenue of Rs 3.01 billion was collected in the last fiscal year.

The office had set a revenue target of Rs 3.79 billion last year. However, only 84.57 percent was collected.

“Revenue collection has come down due to decline in trade and business volume across the country”, he said.

According to Information Officer Acharya, the office collected around Rs 1.70 billion from income tax, Rs 36.4 million from rental income tax, Rs 115.9 million from interest, Rs 1.29 billion from value added tax and Rs 644.65 million from excise duty.

The income from value added tax (VAT) has decreased due to low payment of development projects in the district in the current fiscal year. In the last fiscal year, around Rs 1.38 billion revenue was collected as value added tax.