KMC progresses in revenue collection: 29.85 percent increase compared to last year

Kathmandu / Sept 22: Kathmandu Metropolitan City (KMC) has collected 29.85 percent more revenue till September 21 of this financial year than till September 21 of last fiscal year.

The metropolis had collected Rs 1.29 billion in revenue in the said period of last year, and in the same period of the current financial year, it has collected Rs 1.68 billion. This is 384.27 million rupees more.

This year, the amount of revenue collection has increased after letters were sent to the big taxpayers who did not pay their taxes. According to Shivraj Adhikari, the head of the revenue department of KMC, “Letters were sent to these companies in the past years as well. However, the taxpayers did not care.”

The casino operators who refused to pay entertainment tax earlier have paid Rs 8.65 million till this period of the current financial year. Similarly, the association organizations that did not agree to come under the tax net have paid property tax amounting to Rs 18.07 million.

According to the chief officer of the revenue department, Rs 7.84 million of revenue has been recovered from the associations that were reluctant to pay the rent tax earlier.

Similarly, Rs 1.8 million has been collected in business tax. It is projected that about Rs 500 million will be added to the revenue from those who do not pay taxes in addition to regular payments. “Out of this, only Rs 261.1 million has to be paid by the Nepal Electricity Authority,” said Dr Adhikari.