Tuesday Nov 5, 2024
Tuesday Nov 5, 2024

38 percent more revenue collection after increasing the tax range


Nepalnews
2022 Feb 24, 14:53, Birgunj

The positive effect has been seen after the Birgunj Municipal Corporation increased the range without tax rate.

The tax exemption policy introduced by the corporation with the objective of providing relief to the industry and business sector which is suffering from the negative impact of corona virus infection has had a positive effect on revenue collection.

The corporation has collected Rs. 353.33 million in the first seven months of the current fiscal year. This is 38.26 percent more than the corresponding period of the previous fiscal year. In the first seven months of last fiscal year, the corporation had collected revenue of Rs. 255.58 million.

According to Nischal Raj Panday, Chief Administrative Officer of Birgunj Metropolitan City, the Ninth Municipal Council has decided to give property tax exemption to the organizations involved in industry, trade, hospital and social work.

According to him, Rs. 105 million 93 thousand has been collected under property tax and Rs. 41.4 million under house restoration tax has been collected during the period. In the corresponding period of the previous fiscal year, Rs. 102.1 million was collected under property tax and Rs. 36.8 million under house restoration tax.

It is said that the attractive scheme of giving five percent exemption to the city dwellers who have been facing various obstacles due to corona infection by paying property tax and business tax by mid-April has had a positive impact on the tax collection of the metropolis.

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PRO[ERTY Tax Exemption Birgunj Covid business finance economy relief
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