1 February, Kathmandu. The Kathmandu Metropolitan City has collected a revenue of Rs. The city has a target of collecting a revenue of Rs 10 billion 49 lakh 54 thousand in the current year.
One billion rupees was proposed for property tax by the metropolis through the budget this year. According to the Revenue Department, out of this, 65.2 percent i.e. Rs 652 crore 10 thousand 800 has been recovered. Rs 2 billion 50 crore, ie Rs 3878 crore 70 thousand 800, 15.51 percent of the proposed real estate registration fee has been recovered. 1.18 billion 15 lakh 51 thousand 400 rupees have been recovered under the head of 2 billion proposed restoration tax. This is 59.08 percent of the target.
rose less when the federal government intervened
According to Drubh Kafle, head of the revenue department of the Kathmandu Metropolitan City
As per the provision in Schedule 8 of the Constitution, the restoration tax comes under the sole authority of the local level.
However, the federal government collects the corporate tax by saying that it is within its jurisdiction. He said this has created a situation where taxpayers have to pay double taxes to the municipality and the federal government.
“On the one hand, there has been erosion of the jurisdiction of the metropolis, and on the other hand, meeting the target income has become a challenge,” Kafle said.
41 crore 57 lakh 86 thousand 744 rupees have been received out of 75 crores proposed in map pass fee. This is 55.3 per cent progress on the target. Rs 314.2 crore 9000 has been recovered in the proposed business registration fee of Rs 55 crore. This is 57.13 percent of the target.
In the proposed allocation of Rs 36 crore 52 lakh 54 thousand, Rs 8 crore 92 lakh 73 thousand 700 (24.44 per cent) has been received from Value Added Tax. In terms of distribution, Rs 463.4 crore 99 thousand vehicle tax, Rs 12 lakh 987 thousand 800 (26.1 percent), Rs 5 lakh entertainment tax, Rs 9 lakh 82 thousand (181.65 percent) and 181.65 percent advertisement is proposed. Out of Rs 80 crore offered for tax, Rs 1 crore 23 lakh 61 thousand 973 (15.45 per cent) has been earned.
small vehicle tax nil
According to the Revenue Department of the metropolis, the small vehicle tax for the current year has not yet been collected.
Rs 5 lakh has been proposed as small vehicle tax, but no income has been generated under this head, i.e. the income is nil. Similarly, no income has been realized from excise duty on distribution.
An income of Rs 1 lakh was offered from interest received from financial institutions and Rs 5 lakh from dividends received from other institutions. The metropolis has informed that no income has been received under both these heads. According to the metropolis, there has been no income even under the capital conditional grant of Rs 2 crore 41 lakh.