NOC monthly loss increases to Rs. 1.15 billion

Kathmandu, Aug 02 – The government's revenue collection has increased by 21.24 percent to Rs. 296.01 billion during the last fiscal Year 2012/13 while the revenue collection stood at Rs. 244.14 billion during the previous fiscal year 2011/12.

The government had set the target of Rs. 289.6 billion as revenue for the last fiscal year.

According to the Ministry of Finance (MoF) on Thursday, VAT has contributed largest in the total revenue mobilisation as collection increased by 15.68 percent to Rs. 83.5 billion during the review year.

Similarly, income tax stood at second spot to contribute in the total revenue collection as collection increased by 28.06 percent to Rs. 67.01 billion while excise duty increased by 20.57 percent to Rs. 36.66 billion last fiscal year.

Likewise, the government mobilised Rs. 10.26 billion in registration and vehicle taxes last fiscal year, against the collection of Rs. 7.79 billion in the previous year.