KATHMANDU, July 20: The Inland Revenue Office Mahendranagar has recorded a rise in revenue collection, accumulating Rs 2.41 billion in the Fiscal Year (FY) 2024/25, according to Chief Tax Officer Damru Prasad Parajuli. This marks an increase from Rs 2.39 billion collected in the previous FY.
Income tax revenue rose by 13 percent to Rs 850.8 million, up from Rs 750.1 million last year. Interest tax collection increased by 22 percent, reaching Rs 28.9 million compared to Rs 25.2 million the year before.
Revenue collection target remains unmet
Rental tax rose by 12.5 percent, with Rs 13.7 million collected. Additionally, the office raised Rs 608.8 million in VAT and Rs 909.1 million in excise duty.
Parajuli noted that while income tax increased, VAT slightly decreased and excise duty remained stable. The office currently has Rs 130 million in outstanding dues, including Rs 90 million in VAT and Rs 40 million in income tax.
He added that tax officials are actively reaching out to defaulters via shop visits and phone calls. Persistent non-payers are warned through public notices, and bank accounts may be frozen if dues remain unpaid.
