Financial crime a threat to economy
KATHMANDU:
Finance secretary Krishna Hari Baskota said that the government is facing new type of financial crime in every successive year.
Addressing to the 12th Annual General Meeting of Society of Economic Journalist of Nepal, he said that the government faced the challenge from Value Added Tax (VAT) defaulters last year and it is facing fake customs declaration forms problem at present.
“Handful people are involved to commit financial crime,” he informed, saying the Finance Ministry will not let criminals to go without action. The government is committed to bring all criminals to book, he pledged. “The government has taken the fake customs declaration form scam seriously and committed to bring all irregularities into light.”
He also said that the trend of importing goods by escaping customs points is also in practice, according to him. Finance Ministry is putting effort to control all sorts of malpractice at the customs points, he informed.
Non-filler and under-evaluation import is major challenges to the government. Similarly, import from out of customs points have also pose threat to the government’s revenue collection, he added.
In the programme, finance secretary stressed to the Foreign Direct Investment to conclude big projects in Nepal. “Nepali private sector is not capable enough to invest in the big projects so far,” he said.
According to him, the main problem in initiating big projects is not resources but lack of capacity of the government, according to him.
Source: THT
Finance secretary Krishna Hari Baskota said that the government is facing new type of financial crime in every successive year.
Addressing to the 12th Annual General Meeting of Society of Economic Journalist of Nepal, he said that the government faced the challenge from Value Added Tax (VAT) defaulters last year and it is facing fake customs declaration forms problem at present.
“Handful people are involved to commit financial crime,” he informed, saying the Finance Ministry will not let criminals to go without action. The government is committed to bring all criminals to book, he pledged. “The government has taken the fake customs declaration form scam seriously and committed to bring all irregularities into light.”
He also said that the trend of importing goods by escaping customs points is also in practice, according to him. Finance Ministry is putting effort to control all sorts of malpractice at the customs points, he informed.
Non-filler and under-evaluation import is major challenges to the government. Similarly, import from out of customs points have also pose threat to the government’s revenue collection, he added.
In the programme, finance secretary stressed to the Foreign Direct Investment to conclude big projects in Nepal. “Nepali private sector is not capable enough to invest in the big projects so far,” he said.
According to him, the main problem in initiating big projects is not resources but lack of capacity of the government, according to him.
Source: THT
