April 17:  Collection of inland revenues is down by Rs 5.5 billion until the third quarter (mid-April) of the current fiscal year. The government has collected Rs 337.10 billion in inland revenues until the third quarter of the current fiscal year, according to the Inland Revenue Department. 

The government had collected Rs 342.65 billion in inland revenues during the same period last fiscal year. Officials at IRD say that economic effect seen in multiple sectors has affected collection of inland revenue.

The government has collected Rs 5.5 billion less in inland revenues in the first nine months of the current fiscal year compared to last fiscal year’s same period.  Collection in inland revenue has fallen by 1.62% in the nine months of the current fiscal year compared to same period last fiscal. 

The government has collected Rs 150.20 billion in income tax until the third quarter of the current fiscal year against its collection of Rs 165.45 billion in the review period last fiscal year.  Nine months’ value added tax(VAT) stands at Rs 78.89 billion. Likewise, Rs 74.28 billion was collected under excise duty. 

According to department, the government has collected Rs 1.97 billion rental taxes, Rs 5.25 billion health service tax and Rs 1.26 billion education tax respectively. 

The government has collected only 50% revenue against its annual target till the end of third quarter of the current fiscal year, according to Financial Comptroller General Office.

The government has been able to collect only Rs 724.47 billion in revenues until third quarter against its annual target of Rs 1458.60 billion.