KMC collects around Rs 5 billion in revenue

KATHMANDU, JANUARY 17: The Kathmandu Metropolitan City (KMC) collected around Rs 5 billion in revenue in the first half of the current fiscal year 2023/24. The collection is higher by around 350 million than that of the corresponding period in the last fiscal year. KMC Revenue Department Chief Dhruba Kafle said that the highest revenue collection for the KMC was from the house rent tax at over Rs 1.35 billion followed by tax on property at over Rs 670 million.

The swelling in the size of taxpayers is attributed to an increase in revenue collection. The KMC has aimed to generate over Rs 10 billion in revenue for the current fiscal year. KMC has been collecting revenue under 36 different headings including property, home maintenance, business registration, advertisement, entertainment, real estate, VAT and vehicles among others, informed Kafle.

If revenue collection goes at the same pace, the KMC would meet its annual revenue collection target at the end of the fiscal year, he viewed. The KMC intensifying the tax collection drive also led to the collection of the outstanding amount for a long thereby contributing to an increase in revenue collection.