The Inland Revenue Department (IRD) has reported significant growth in revenue collection over the past few months. By June 14 of the current fiscal year, revenue collection had reached Rs 41.19 billion, increased by 11.30 percent from Rs 37 billion during the same period last fiscal year.
The IRD collected Rs 448 billion in the last 11 months, which ended on June 14, 2024. This is a 9.64 percent increase over the Rs 408 billion collected at the same time in the previous fiscal year.
| Aspect | Details |
| Revenue Collection by June 14 | Rs 41.19 billion |
| Revenue Collection Increase | 11.30% |
| 11-Month Revenue Collection (Ending June 14, 2024) | Rs 448 billion |
| An increase from the Previous Fiscal Year | 9.64% |
| Previous Fiscal Year Collection | Rs 408 billion |
| Revenue Increase Amount | Rs 40 billion |
| Income Tax Revenue | Rs 232 billion |
| VAT Revenue (Internal) | Rs 112 billion |
| Excise Duty Revenue | Rs 95 billion |
| Other Sources (Health, Education, etc.) | Rs 8 billion |
| Percentage of Total Targeted Revenue Collected | 78.5% |
| Fiscal Year End Date | July 15 |
Revenue collection increased by Rs 40 billion compared to the previous fiscal year, according to IRD Director General Shiva Lal Tiwari. The government received Rs 232 billion in revenue from income tax (including rent and interest), Rs 112 billion from internal VAT, Rs 95 billion from excise duty, and Rs 8 billion from other sources, including health and education.
Director General Tiwari reported that 78.5 percent of the targeted revenue has been collected till now and that more work will be done to reach the objective by July 15, the end of the fiscal year.
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