18 June, Kathmandu:
“We are in a more-or-less breakeven position in terms of income and expenditure. We need to be able to collect enough revenue to pay our bills, and to pay salaries and pensions,” broadcasted Uttar Kumar Khatri, the finance ministry spokesperson.
According to the ministry, the government had expenditure of nearly Rs889 billion so far and has collected over 920 billion from revenues, received foreign grants, internal loans, and other receipts.
Having low savings and little income, the government has to be very cautious about their expenditures in the final month of the current fiscal year.
The government had extended its deadline to pay value-added tax, excise duty, tax deducted at source (TDS) under income tax, education service tax, telephone ownership fees, and telecommunication service fees to June 21, and income tax by June 28. But the pandemic has done worst to the city, many business have permanently shut down, many are running in losses and a lot are troubled to pay the taxes. Considering the situation, the government has extended the dates 3rd time to pay the taxes.
As per the sources, on Monday, when the government requested for the revisit of the order passed, the court rejected it due to the extreme shortfall in revenue collection. As earlier the Supreme Court, in a June 11 passed a temporary order, asking the government to allow 30 days after the complete end of the lockdown to taxpayers to pay their dues.