Kathmandu: The Kathmandu Metropolitan City has announced a budget of Rs 25.76 billion for the upcoming fiscal year 2082/83. Deputy Mayor Sunita Dangol presented the budget during the 17th convention of the municipal assembly held on Sunday.
According to National News Agency Nepal, of the total budget, Rs 20.12 billion will be sourced from the internal resources of the metropolitan city and bank deposits. Additionally, nearly Rs 5 billion will be obtained from the federal and provincial governments through conditional and equalization grants and revenue sharing.
The budget outlines plans to identify new taxpayers to enhance revenue collection in the upcoming fiscal year, with efforts including visits to transaction sites for coordination. Moreover, the city has introduced a subsidy provision for new taxpayers who join the taxpayer list within the first six months of the fiscal year.
In addition, coordination with the federal government is planned to integrate the house rental tax into a one-door system, streamlining the process for taxpayers.