Finance Ministry Falls Short Of Tax Revenue Target
Deputy Minister of Finance Abdul Habib Zadran said their target for the last fiscal year was Afs200 billion ($2.59 billion).
The Ministry of Finance has fallen short of its tax revenue target. In the last fiscal year, which ended on December 20, the govt collected Afs177 billion ($2.29 billion) in taxes in 1398 (2019). But it has only collected Afs174 billion ($2.25 billion) this year, the ministry said.
Finance Minister Abdul Hadi Arghandiwal said the COVID-19 pandemic is the main reason behind the reduction in national revenue.
He said the Afghan government vowed during the last Geneva Conference to achieve self-reliance within the next four years.
“We promised to donor countries to increase our incoming resources to a level that would allow our ordinary budget of the country,” Arghandiwal said.
Deputy Minister of Finance Abdul Habib Zadran said their target for the last fiscal year was Afs200 billion ($2.59 billion).
“There is an Afs31 billion ($402 million) reduction in our target. Besides that, the budget that was allocated for COVID-19, Afs36 billion ($467 million) created additional expenses for us,” Zadran said.
The international community vowed roughly $13 billion for the next four years in the Geneva Conference that was held last month.
Reduced Electricity To Industrial Parks Raises Concerns
August 18, 2020 - 13:13The association’s director states there is less electricity, and production rates have decreased. The Afghanistan Industries ...
Iran To Export $3 Billion In Non-oil Goods To Afghanistan This Fiscal
August 20, 2020 - 14:33The Chairman of Iran-Afghanistan Chamber of Commerce, Hossein Salimi, said Tuesday his country is expecting this year’s non-oil expor...
AICC Accuses Govt Of Ignoring Trade, Investment Problems
August 25, 2020 - 12:00AICC officials see the increased security incidents as a challenge to the country’s private sector. On Monday, th...