Binod Chaudhary questions Finance Minister Khatiwada’s tax plans! Blames the government for the shutdown of industries

Binod Chaudhary, Nepal’s wealthiest person is yet again in news because of his recent opinions in the parliament. Chaudhary was brutally honest when he claimed that Nepal is the country that levies highest percentage of tax in proportion to GDP. Chaudhary further made remarks on how finance minister has been bringing in new tricks to collect tax from the general public and manufacturers. Chaudhary further added his remarks on this saying if the manufacturing industry is not made competitive enough or if our productivity does not rise with the rise in tax collection, the plans from the side of government will be limited within papers.

As Chaudhary has been emphasizing in his every speech that despite opening several special economic zones in Nepal, industrialists are not making an effort to reach those economic zones, he pointed out the same issue even in this parliament among the delegates including finance minister. He questioned the need to import fruits, vegetables and herbs annually in the country despite being an agrarian nation. Chaudhary explained “since we are dependent on our neighboring countries for every item, rather than focusing on ways to charge tax on manufacturing industry, we should focus on what facilities if provided to manufacturers would reduce these imports”.

Recently, there have been a lot of talks on taxes to be charged when inheriting parental property. Chaudhary asserted that if this rule will be implemented, this will reflect a bigger social issue.

He concluded due to heavy taxes charged on industries, industrialists now have been forced to close down their industries. Chaudhary personally called on Finance Minister Dr Khatiwada as he wrapped up the speech questioning whether the taxes levied by Dr Khatiwada would be a source of revenue for new automobiles to government employees.

What are your opinions on this? What do you support – Binod Chaudhary’s observation or Finance Minister’s policies? Let us know in the comment section below.