KATHMANDU, Aug 24: The Kathmandu Metropolitan City (KMC) collected revenue of Rs 654.20 million in the first month of the current fiscal year, which was 43.58 percent more than the amount collected during the same period of the last fiscal year.
According to the KMC, it collected revenue of Rs 654.20 million during mid-July and mid-August of the current fiscal year, compared to Rs 458.90 million of the same period last year. The growth in revenue collection has been attributed to the stern policy implemented by the metropolis mainly in house rent tax and property tax.
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During the review period, the KMC collected property tax of Rs 125.80 million, an increase from Rs 70.90 million. Likewise, the metropolis was successful in raising its revenue at Rs 316 million under house rents, which was Rs 227.60 million in the same period last year.
The KMC has projected to collect revenue worth Rs 25.54 billion in the current fiscal year.
