KATHMANDU

The Kathmandu Metropolitan City (KMC) collected around Rs 5 billion in revenue in the first half of the current fiscal year 2023–24. The collection is higher by around 350 million than that of the corresponding period in the last fiscal year.

KMC Revenue Department Chief Dhruba Kafle told Rastriya Samachar Samiti (RSS) that the highest revenue collection for the KMC was from the house rent tax at over Rs 1.35 billion, followed by tax on property at over Rs 670 million. The swelling in the number of taxpayers is attributed to an increase in revenue collection.

The KMC has aimed to generate over Rs 10 billion in revenue for the current fiscal year. KMC has been collecting revenue under 36 different headings, including property, home maintenance, business registration, advertisement, entertainment, real estate, VAT, and vehicles, among others, according to Kafle.

If revenue collection goes at the same pace, the KMC would meet its annual revenue collection target at the end of the fiscal year, he said. The KMC intensifying the tax collection drive also led to collecting the outstanding amount for a long time, thereby contributing to an increase in revenue collection.