KATHMANDU, FEB 20: The Department of Customs (DoC) has processed digital revenue collection of over Rs 7.4 billion till the end of mid-February, since it pilot-started from 16 December, 2021 from Dry Port Birgunj Customs Office.
The e-payment of DoC has been enabled through National Payment Switch (NPS) for real time and non-real time payments, corresponding to which Rs.3.4 billion was processed as real-time transactions through retail payment switch and Rs. 4 Billion as non-real-time transactions through NCHL-IPS during the period.
Balance of payment, current account continue to turn deficit
Similarly, the total e-payment of Government of Nepal (GoN) revenue collection during FY 2021/22 till end of mid-February was Rs 13.2 Billion, whereas DoC alone has contributed around 56% of the total in a single month. The government collected approximately 10% of its revenue from digital channels during FY 2020/21. This is expected to increase 2-3 times in the current fiscal year and the e-payment of DoC revenue collection will majorly increase GoN transactions.
The e-payment was formally launched by the Finance Minister on 26 January for initiating e-payment of revenue collection from the customs office all over Nepal. With the full commencement by the DoC for e-payments related to customs declaration form through various digital channels of NCHL and BFIs, there has been a considerable increase in the digital revenue and largely helped the importers to automate their payment process.
