Nepal’s revenue collection surges 17% in first four months of FY 2081/82, reaching Rs 323.24 billion. Finance Ministry sets ambitious annual target amid improved tax administration. Revenue Increased by 17 Percent.
The revenue collection in the first four months of the current fiscal year (2081/82) has increased by approximately 17 percent compared to the same period last year. According to the details presented at the Ministry of Finance’s high-level management committee meeting, last year’s revenue collection during this period was 276 billion rupees. In the current fiscal year’s first four months, the revenue collection has reached 323.24 billion rupees.
Looking at the comparative revenue collection over the past five years:
- Fiscal Year 2076/77: Target was 1,112.03 billion rupees, achieved 71.38%
- Fiscal Year 2077/78: Target was 1,011.76 billion rupees, achieved 92.50%
- Fiscal Year 2078/79: Target was 1,180.60 billion rupees, achieved 90.24%
- Fiscal Year 2079/80: Target was 1,403.15 billion rupees, achieved 68.23%
- Fiscal Year 2080/81: Target was 1,422.54 billion rupees, achieved 74.54%
The current fiscal year (2081/82) has a revenue collection target of 1,419.30 billion rupees, which is approximately 34% higher than last year’s actual collection. For the first four months (Shrawan-Kartik), the target was set at 406.37 billion rupees, but the actual collection was 323.24 billion rupees, achieving about 80% of the target. This is 16.85% higher than the same period last year.
During the meeting, Deputy Prime Minister and Finance Minister Vishnu Prasad Poudel emphasized the importance of resource and expenditure management. He directed focus on:
- Expanding tax coverage
- Collecting outstanding dues
- Improving tax administration effectiveness
- Employee conduct
- Inter-ministry coordination
- Activities beyond customs points
He also ordered strict legal action against those trying to break the tax collection system.
Tax Revenue Collection System in Nepal
- Key Administrative Bodies:
- Inland Revenue Department (IRD)
- Department of Customs
- Revenue Advisory Board
- Ministry of Finance (oversight)
- Major Types of Taxes:
- Value Added Tax (VAT) – 13%
- Income Tax
- Customs Duty
- Excise Duty
- Property Tax
- Vehicle Tax
- Collection Methods:
- Online tax payment system (e-payment)
- Bank deposits
- Digital billing system
- PAN (Permanent Account Number) registration
- Integrated customs management system
Also view:
1. View All Job Vacancy Notice Details
2. View All TU Exam Result Center Update
3. View All Lok Sewa Exam Vacancy Tayari