July 19, 2017<\/strong><\/p>\n The Government of Nepal exceeded its revenue collection target of the 2016-17 fiscal, supported by an exponential rise in imports and the tax paid by a telecom service provider<\/a>, NCell, on its capital gains.<\/p>\n Exceeding its actual target of Rs 565.69 billion, the government bagged an additional sum of Rs 45.87 billion and collected Rs 611.76 billion in total, thus recording a 26.93 percent year-on-year rise.<\/p>\n The additional revenue is attributed to the income tax and customs tariff collections, which surpassed targets because of the tax payment by NCell and substantial rise in imports.<\/p>\n According to the Customs department, imports into the country in the 2016-17 fiscal surged by 31 percent\u00a0over the previous fiscal.<\/p>\n The registration tax collections also witnessed a rise due to increase in land and housing transactions in the country.<\/p>\n Other than the Value Added Tax (VAT) and health & education service tax, all the other tax sections exceeded their fiscal targets.<\/p>\n However, VAT is the major tax earner that accounted for 26.33 percent\u00a0of the overall revenue share, followed by income tax (24.74 percent), customs tariff (18.34 percent), and excise (12.18 percent).<\/p>\n","protected":false},"excerpt":{"rendered":" July 19, 2017 The Government of Nepal exceeded its revenue collection target of the 2016-17 fiscal,…<\/span><\/p>\n