Finance Minister: Double Taxation to be Eliminated

by Glocal Khabar 443 views0

Kathmandu, August 13, 2018: Finance minister claimed that the government-cited taxes duplication on different layers will be eliminated. The subnational government seems to enforce the new taxes having lack of tax awareness.

Yubaraj Khatiwada, Finance minister asked taxpayer not to worry about the duplication as it will no longer exist. After the meeting with federal Parliament, Khatiwada mentioned that the federal government corresponding to subnational governments concluded with the tax duplication and enforcement are beyond jurisdiction. A challenging growth of 35% in the current fiscal years is a target set by the government. But Khatiwasa added that the goal of government will be achieved after widening the tax net. The mobilization of the internal revenue and external foreign aids as resources responsible for the growth process to the goal of government. Gyanendra Bahadur Karki, the former finance minister said that Nepal being an overtaxed economical country, the fresh investors in agro-processing, manufacturing, servicing and many more will be very difficult to attract. He supports that the tax base should not be expanded.

After many discussion, on the execution of the budget in the fiscal year, the double taxation is likely to be eliminated in different layers.

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