Kathmandu. The scope of taxes is expanding day by day. According to the Ministry of Finance, 433,000 taxpayers have been added till Magh of the current fiscal year. A total of 426,330 taxpayers who have taken permanent account numbers have been added till Magh of the fiscal year 2080/81, while a total of 433,703 taxpayers have been added during the same period of the current fiscal year.
According to the ministry, the number of taxpayers who have taken permanent account numbers has reached 6,659,836. The ratio of commercial permanent account numbers, permanent account numbers taken by tax authorities and personal permanent account numbers among the total permanent account numbers registered during this period is 30.2 percent, 0.5 percent and 69.3 percent respectively.
The number of taxpayers registered for VAT and excise duty has reached 341,716 during the review period and 123,132 taxpayers registered for excise duty.
On 15th Jestha, the then Finance Minister Barshaman Pun formulated the revenue policy and program through the 2081/82 budget to improve the revenue system, expand economic activities within the country, promote investment, and prioritize and encourage domestic production and enterprises, expand the scope of revenue and protect the tax base, and create a sustainable, transparent and He announced that the tax base would be expanded and tax compliance would be increased through developing a fair revenue system, taxpayer education and awareness programs.
Although the number of taxpayers has increased significantly after the budget, the government’s income has not increased in an encouraging manner.
The government has set a target of collecting Rs 1.4 trillion 19 billion in revenue in the current fiscal year, but according to data from the Office of the Comptroller and Auditor General, only 51 percent of the target, or Rs 7.37 trillion, has been collected by Chaitra 8. The data shows that the government’s budget deficit has risen to over Rs 1 trillion by this period.
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