Inland Revenue Office Collects Over Rs 10 Billion in Revenue

The Inland Revenue Office in Biratnagar has collected a total of Rs 10.30 billion in revenue for the fiscal year 2082/83, achieving a growth rate of 85.15%.

According to the office, the total revenue collected falls short of the target of Rs 12.10 billion by Rs 1.79 billion. The revenue collected includes Rs 4.70 billion in income tax, Rs 808 million in withholding tax, Rs 381 million in interest tax, Rs 2.56 billion in value-added tax, Rs 3.15 billion in excise duty, Rs 84,000 in education tax, and Rs 508 million in other taxes.

Comparison with Previous Years

In comparison, the office had collected Rs 8.93 billion in revenue in the fiscal year 2080/81, falling short of the target of Rs 9.44 billion. In the fiscal year 2081/82, the office had collected Rs 9.61 billion, falling short of the target of Rs 10.72 billion.

The office has reported a revenue growth rate of 8.77% in the fiscal year 2080/81, 7.61% in the fiscal year 2081/82, and 7.28% in the fiscal year 2082/83.

Challenges Faced by the Office

The office, which has a total of 60,675 taxpayers registered, has faced challenges in collecting taxes due to the changed circumstances after the Jangee movement. The office chief, Keshav Prasad Upreti, stated that the office was unable to collect taxes as per the target and had to work outside the office premises.