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Huge decline in share transaction takes its toll on govt revenue from capital gains tax

KATHMANDU: The government collected capital gains tax on the share transaction worth Rs 715.85 million as of four months of the current fiscal year, which was just around 10 percent of the amount collected during the same period last year.

The records with the CDS and Clearing show that the country’s stock exchange market contributed capital gains tax of Rs 7 billion in the state’s coffers during mid-July and mid-November last year. In the review period this year, the revenue collection on the heading declined 89.75 percent.

While the daily turnover amount crossed Rs 21 billion during the period last year, it heavily declined this year. Last week, it stood at just Rs 1.44 billion a day. Likewise, the market index also fell 117.69 points from Rs 1,211.39 points from mid-July this year.

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