My Republica – Govt collects Rs 37 billion revenue from petroleum products

Govt collects Rs 37 billion revenue from petroleum products

KATHMANDU, June 20: Nepal Oil Corporation (NOC) paid Rs 37.32 billion in different taxes to the government in the first 11 months of the current fiscal year.

The petroleum monopolist different taxes, including Valued Added Tax (VAT), to the government while importing petrol, diesel, kerosene, aviation turbine fuel (ATF) and liquefied petroleum gas (LPG). 

Nagendra Jha, deputy executive director of NOC, said the corporation paid Rs 36 billion under different tax headings to the government in the first 11 months of the current fiscal year.

NOC paid Rs 8.71 billion to the government as customs tax, Rs 3.37 billion as road maintenance tax, Rs 70.5 million as pollution tax and Rs 13 billion as VAT. Similarly, NOC has also collected Rs 8.19 billion from infrastructure tax levied on consumers. 

The petroleum monopolist has been levying additional charge on consumers to raise funds for construction of Budhigandaki Hydroelectricity Project (1200 MW).

The taxes that NOC pays directly go into the government’s account. 

NOC has imported 332,000 kiloliters (KL) of petrol, 1.06 million KL of diesel, 15,916 KL of kerosene, 137,376 KL of ATF, and 255,421 tons of LPG till mid-May. 

The government levies Rs 15.23 as custom tax on per liter of petrol, Rs 2.3 on per liter of diesel and kerosene each, Rs 2.13 per liter on ATF for domestic airlines, 3 paisa per liter on ATF for international airlines,…

Read the full article from the Source…

Back to Top