Kathmandu: In the first half of the fiscal year 2023/24, the Kathmandu Metropolitan City (KMC) has successfully collected approximately Rs 5 billion in revenue, marking an increase of around Rs 350 million compared to the same period last fiscal year.

Dhruba Kafle, the Chief of the KMC Revenue Department, highlighted that the highest revenue contributor was the house rent tax, totaling over Rs 1.35 billion, followed by property tax at more than Rs 670 million. The rise in the number of taxpayers has played a significant role in augmenting revenue collection.

With a target to generate over Rs 10 billion in revenue for the current fiscal year, the KMC has employed a multi-faceted approach, collecting revenue under 36 different categories, including property, home maintenance, business registration, advertisement, entertainment, real estate, VAT, and vehicles, among others.

Kafle expressed optimism that if the current pace of revenue collection is maintained, the KMC will achieve its annual target by the end of the fiscal year. The intensified tax collection efforts, along with the resolution of long-standing outstanding amounts, have contributed to the notable increase in revenue collection.