Sunday, November 24, 2013

Excise duty fails to meet target but revenue mobilisation exceeds target

Though the excise duty mobilisation failed to meet the target, revenue mobilisation has exceeded the target for the fourth month of the current fiscal year 2013-14.
The Inland Revenue Department has been able to mobilise Rs 31.32 billion revenue in the four months – mid-October to mid-November – of the current fiscal year against the target of Rs 31.22 billion, the department said, adding that income tax and VAT mobilisation stood at 101 per cent of the target, whereas excise duty mobilisation stood at 99 per cent.
The department has been able to mobilise Rs 12.70 billion (target Rs 12.63 billion) under income tax, Rs 10.70 billion (target Rs 10.62 billion) under VAT, Rs 7.35 billion (target Rs 7.74 billion) under excise and Rs 123.6 million (of the target Rs 90.3 million) under education tax, said the director general of the department Tanka Mani Sharma.
In the third month of the current fiscal year 2013-14, the revenue mobilisation had stood at Rs 27.07 billion.
Meanwhile, the department today organised a interaction with the auditors under its taxpayers awareness programme.
Sharma, on the occasion, requested the auditors to play a role of the facilitator between the revenue administration and the taxpayers.
Seeking the auditors assistance in making the Tax Fair on Tax Fair on January 5-8 a success, he called the auditors to help the taxpayers aware of their duties and better revenue mobilisation.

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