Revenue collection drops in Bagmati Province

BAGMATI: The revenue collection on the heading of ‘real estate (house and land) registration’ and ‘vehicle tax’ has dropped in the Bagmati Province.

The revenue collected by the province government under these headings has also been affected due to the decline in the sale and purchase of real estate and new vehicles.

Real estate registration (land revenue) and vehicle tax are the main sources of revenue collection of the province government. According to the chief of Bagmati Province Treasury and Accounts Controller office, Hetauda, revenue of Rs 11.60 billion has been collected in the fiscal year 2080÷81 BS.

According to him, out of the target of collecting Rs 6.75 billion revenue from the real estate registration in the current fiscal year, about 81.32 percent or Rs 5.48 billion has been collected.