Kathmandu’s July Revenue Surges: Exceeds 654.2 Million

Kathmandu Metropolis Records Impressive Revenue Surge: July Collection Exceeds 654.2 Million Rupees

Breaking News Kathmandu: A remarkable surge in revenue collection during July has positioned the city at the forefront of fiscal success. In a striking achievement, the Kathmandu Metropolitan City has witnessed a substantial rise in revenue for the month of July in the current fiscal year. The revenue collection for this month has surpassed the previous year’s figures, presenting a noteworthy growth.

Comparing the revenue collection for the same month in the previous fiscal year (2079/080), the difference is impressive. While last year’s revenue stood at 450 million 989 thousand 336 rupees, the current year has witnessed an upsurge of 20 million 32 million 41 thousand 43 rupees in the first month alone.

The upward trend in revenue collection has been consistent since 2077/078. In the first month of that fiscal year, revenue collection stood at 26 million 39 lakh 53 thousand 716 rupees. The subsequent year, 2078/079, marked a substantial leap with revenue touching 43 crore 53 lakh 43 thousand 971 rupees – an increase of 17 crore 13 lakh 90 thousand rupees compared to the first year. The trend continues into 2079/080, with revenue collection in the first month reaching a significant 56 lakh 45 thousand 365 rupees.

Out of these four years, the current fiscal year has seen the highest revenue collection.

This fiscal year has been marked by the exclusion of certain revenue sources, including property tax, rental income tax, small vehicle tax, value-added tax, advertisement tax, and interest received from financial institutions.

Among the various revenue sources, house restoration tax has made the most substantial contribution, with a collection of 316 million 18 thousand 228 rupees. Property tax follows closely, contributing 12 crore 58 lakh 48 thousand 773 rupees. The revenue heads also include land tax, personal internal grants, service fees, judicial fees, map pass fees, parking fees, recommendation fees, among others. Administrative penalties, fines, confiscations, tourism fees, bail bonds, and beruju also contribute to the overall revenue collection.

This remarkable achievement can be attributed to proactive efforts. Dhruv Kumar Kafle, the head of the revenue department, attributes this success to initiatives such as tax awareness programs led by ward members, rigorous illegal payment and arrears collection, and ongoing tax examination efforts.

Kathmandu Metropolis’ remarkable July revenue collection showcases the metropolis’ commitment to strategic financial management and community involvement. This achievement not only highlights fiscal growth but also underscores the importance of responsible financial practices driving the city’s progress.

For a deeper understanding of Kathmandu Metropolis’ revenue accomplishments and strategies, explore the full article.

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