Kathmandu, July 20: The government collected Rs 61.65 billion in revenue from land and property transactions in the last fiscal year, with a sharp surge in deals just before higher capital gains tax rates took effect.
According to the Department of Land Management and Archives, Asar (mid June to mid July) generated the highest monthly revenue of the fiscal year, bringing in Rs 11.95 billion. Property dealers attributed the spike to a rush in transactions ahead of the increase in capital gains tax on real estate, which came into effect on Shrawan 1 (July 17).
The second highest monthly collection came in Baisakh (mid April to mid May), when the government earned Rs 6.26 billion from property transactions.
The department’s data show that revenue from land and property transactions stood at Rs 3.29 billion in Shrawan, before declining slightly to Rs 3.14 billion in Bhadra.
Collections remained relatively low in Ashoj and Kartik, with the government receiving Rs 2.76 billion and Rs 2.75 billion, respectively.
Revenue rebounded in the following months. The government collected Rs 4.85 billion in Mangsir, Rs 5.17 billion in Poush, Rs 5.01 billion in Magh, and Rs 4.15 billion in Falgun.
Property transactions continued to gather pace toward the end of the fiscal year, generating Rs 6.17 billion in Chaitra, Rs 6.26 billion in Baisakh, Rs 5.24 billion in Jestha, before peaking at Rs 11.95 billion in Asar, as buyers and sellers rushed to complete deals before the revised tax rates came into force.
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