All making income will be brought under ambit of Permanent account number (PAN): FM Yubraj Khatiwada

Minister for Finance Dr Yubraj Khatiwada has said that the government has a policy to bring the people making income under the ambit of permanent account number (PAN).

Responding to queries raised by lawmakers during discussion on Finance Bill-2076 in the parliament on Friday, Finance Minister Dr Khatiwada said that tax policy would be determined in order to take indirect revenue system to the direct one by strengthening internal economy.

He further said that the government has adopted the policy to provide grant to poor people by raising tax in an equal manner rather than waiving tax to any special class. The Finance Minister also expressed commitment to taking action to those submitting fake invoice in VAT.

Minister Khatiwada said, "A policy has been adopted to encourage electric vehicle. Casinos should not be closed as Nepalis are prohibited from entering in casinos. Operation of casinos is necessary for tourism promotion." He further said that an arrangement was made to waive excise duty while purchasing vehicles only by community teaching institutions.

The Finance Minister clarified that the government was for taking 10 per cent tax from book shops, not from the profit that book shops make while selling books.