KMC’s revenue totaled Rs 2.92 billion in first four months

KATHMANDU: Kathmandu Metropolitan City (KMC) has collected Rs 2.92 billion from different revenue headings in the first four months of the fiscal year 2023/24. The amount represents an increase of Rs 170 million compared to the same period in the previous fiscal year.

According to a KMC official, the primary contributor to this revenue is the house rent tax. The metropolis mobilized Rs 819.2 million from house rent tax in the review period.

The KMC has set a target of mobilizing Rs 10.8 billion in the current fiscal year which ends in mid-July 2024.

Meanwhile, KMC has added 1,300 new taxpayers, including 648 paying property tax, in recent months. The KMC boasts a taxpayer base of more than 300,000.

KMC mobilizes revenue under nine headings including property tax, house rent tax, entertainment tax and advertisement tax, among others.

In the fiscal year 2022/23, KMC had set a target to raise Rs 10.41 billion.