Kathmandu. Kathmandu Metropolitan City (KMC) has collected Rs 3.22 billion in revenue in the first four months of the current fiscal year.

In the same period of the last fiscal year, revenue of Rs 3.16 billion was collected. During this period, the revenue of the metropolis has increased by Rs 5 crore 65 lakhs 10 thousand 492.

The metropolis had set a target of collecting revenue of Rs 12.90 billion in the last fiscal year. It is expected to collect Rs 15.11 billion this year.

In the review period of the current fiscal year, Rs 1.96 billion has been collected as inland tax. In the same period of the previous year, revenue of Rs 1.99 billion was collected. This figure is Rs 2,20,91,995 less than the previous year.

The reason for the decrease in internal revenue is due to the head of property tax. The same period of the last fiscal year collected Rs 50,31,03,738 in property tax amounting to Rs 42,76,54,276 in the same period of the current fiscal year.

“Last year, it was decided to charge the property tax rate at the rate fixed by the concerned Land Revenue Office. This decision increased the revenue of taxpayers with large buildings. The number of small houses has decreased. After receiving complaints from taxpayers on this issue, the executive meeting held in September 2081 decided to charge property tax at the old rate, and it was decided that the tax of the taxpayers who paid more tax during that period would be adjusted this year. This adjustment has resulted in a reduction in property tax this year,” said Dipak Adhikari, chief of the revenue department.

This year, the tax collection has increased. In the same period last year, Rs 948.5 million was collected while Rs 1,02,92,97,570 was collected this year. Explaining the reason for the hike, Adhikari said, “After the Constitutional Bench of the Supreme Court on June 3, 2082 issued a verdict that the local government was under the jurisdiction of the local government, the tax collected from the Inland Revenue Offices of the federal government started depositing it in the metropolitan city.”

Business tax has also increased this year. Last year, Rs 22,87,08,708 was collected, while this year Rs 23,32,36,170 has been collected. However, the amount collected from building design fee has decreased. Last year, Rs 12,06,66,649 was collected, which has come down to Rs 8,88,06,881 this year. With the decrease in the number of buildings in the city, the revenue collection has also decreased