Inland Revenue Office, Biratnagar fails to meet its target
Kathmandu. The Inland Revenue Office, Biratnagar has been able to achieve only 84 percent of its target in the first three months of the current fiscal year. The office collected Rs 1.63 billion in revenue against the target of Rs 1.94 billion.
Chief of the Biratnagar office Bimal Sapkota pointed at the diminished industrial productivity and decreased volume in the liquor trade as the cause for low revenue collection.
In the review period, the Office achieved 111 per cent progress in income tax and 137 per cent in value added tax (VAT) but excise duty was collected just 50 per cent of its target.
Of the amount, Rs 548.8 million was collected in income tax, Rs 571.5 million in VAT and Rs 516.4 million was collected in excise duty in the first three months of fiscal year 2020/21.
The third month of the review period, however, achieved almost 97 per cent of its target by collecting Rs 630.1 million in revenue.
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