KATHMANDU, Nov 21: The Department of Customs (DoC) fell 36 percent short of its revenue collection target in the first four months of the current fiscal year.
According to the DoC, it collected only Rs 129 billion against its target of Rs 202 billion for the period between mid-July and mid-November this year. The actual revenue collection was Rs 73 billion less than the projected amount.
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In one month of mid-October and mid-November, the DoC collected only Rs 31.24 billion, while it maintained a target to collect Rs 55.03 billion.
The revenue amount was 25 percent less compared to the same period of last year. During the review period last year, the department had collected customs revenue worth Rs 172 billion.
A decline in economic activities along with the government’s restrictions on imports of a number of goods has been attributed for the slump in revenue collection. The DoC has been given a revenue collection target of Rs 668 billion for the fiscal year 2022/23, which is 32 percent more than the collected amount of Rs 506 billion last year.
