Finance Minister directs to be strict on revenue collection

Kathmandu / Mar 3: Finance Minister Dr Yubraj Khatiwada has directed the chiefs of the customs office to resolve the loopholes witnessed in revenue collection.

The Finance Minister issued such directive to the chiefs of the customs offices across the country to meet the target of revenue collection as the revenue collection was not as per the target till the eighth month of the current fiscal year.

According to the Department of Customs, there are 23 main customs offices and 143 offices. As per the government target, the customs offices are collecting customs tariffs, VAT, excise duty and income tax.

Customs covers 44 per cent of the total revenue and 50 per cent of the tax revenue.

The government has set the target of Rs 730 billion revenue collection for this fiscal year but only 55.78 per cent of the total target was met during Thursday of the last week i.e. seven and a half months of the current fiscal year, the Office of the Finance Comptroller.

Issuing stern directive to the customs officials regarding the poor performance on revenue collection, Dr Khatiwada said that there would be zero tolerance to any activities carried to lower the revenue collection.

The Finance Ministry has said that Minister Dr Khatiwada has issued directive to control the imports of inedible foodstuffs and those having environmental impacts. RSS