Revenue Collection Decline in Bagmati Province Due to Real Estate and Vehicle Tax Drop

Bagmati Province has experienced a significant drop in revenue collection from real estate registration and vehicle tax. The decline is attributed to a slowdown in the sale and purchase of real estate properties and new vehicles.

Real estate registration (land revenue) and vehicle tax are key revenue sources for the provincial government. According to the Chief of the Bagmati Province Treasury and Accounts Controller Office in Hetauda, the province collected a total of NPR 11.60 billion in the fiscal year 2080/81 BS.

Despite the overall collection, the revenue from real estate registration is below the target. For the current fiscal year, the goal was to collect NPR 6.75 billion from real estate registration. However, approximately 81.32% of this target, amounting to NPR 5.48 billion, has been achieved so far.