In a major breakthrough, the Nepal government has exceeded its revenue collection target for the first quarter of the current fiscal year!<\/p>\n
According to the Finance Ministry\u2019s Revenue Division, the government has registered a Y-o-Y revenue growth of 41.7 percent with a total collection of standing at NPR 197.89 billion against the targeted NPR 192.62 billion.<\/p>\n
Following are the areas where the government exceeded targeted revenues:<\/strong><\/p>\n Moreover, the government managed to increase its revenue collection target by 29.5 percent in the current fiscal to NPR 945.56 billion against last fiscal\u2019s NPR 730.05 billion. <\/p>\n","protected":false},"excerpt":{"rendered":" In a major breakthrough, the Nepal government has exceeded its revenue collection target for the first…<\/span><\/p>\n\n
\nThe government witnessed a slump in Value Added Tax (VAT) and income tax. These areas are worth considering owing to their contribution to the government treasury.<\/p>\n\n
\nHowever, the government had not set any targets for vehicle registration<\/a>, health service<\/a> and vehicle tax.<\/p>\n\n
\nOverall, the first quarter of the current fiscal generated a revenue of NPR 197.87 million against previous year\u2019s NPR 139.65 billion.<\/p>\n