June 21: The Inland Revenue Department (IRD) has reported a significant increase in revenue collection over the past few months. According to the latest IRD statistics, revenue collection until June 14 of the current fiscal year has reached Rs 41.19 billion. This represents an 11.30% increase compared to the Rs 37 billion collected during the same period last fiscal year.

In the last 11 months of the current fiscal year, the IRD collected a total of Rs 448 billion. This marks a 9.64% increase compared to the Rs 408 billion collected during the same period the previous year.

IRD Director General Shiva Lal Tiwari highlighted that the revenue collection has increased by Rs 40 billion as of June 14 this fiscal year compared to the previous year.

The IRD collected Rs 232 billion from income tax (including rent and interest), Rs 112 billion from internal VAT, and Rs 95 billion from excise duty. Additionally, Rs 8 billion was collected from health services, education, and other sources.

The revenue collection so far has reached 78.5% of the total targeted revenue for the fiscal year. The IRD aims to intensify efforts to meet the revenue target by the end of the fiscal year on July 15. (RSS)