Parliament Approves New Tax and Revenue Bill 2083

Nepal’s House of Representatives on Sunday approved a key financial bill that sets the nation's taxes, custom duties, and revenue collections for the upcoming fiscal year.

Finance Minister Dr. Swarnim Wagle presented the final proposal for the Finance Bill, 2083, which passed by a majority vote during the parliamentary session.

The approval followed a debate over several changes proposed by different lawmakers. While lawmakers Hari Prasad Bhusal and Sushil Khadka chose to drop their requests for changes, proposals from five other lawmakers, Ganga Laxmi Awal, Dr. Pushpa Raj Kandel, Harka Raj Rai, Parbati BK, and Narendra Kumar Kerung were voted down by the majority.

Following the passage of the tax bill, parliament immediately shifted its focus to discussing a separate law that will allow the government to borrow money from the public and financial institutions to fund its national budget.