FinMin for forming tax review commission

KATHMANDU, Oct 20 :

Finance Minister Ram Sharan Mahat on Monday said that the government was mulling over forming a tax review commission to review the country´s taxation system.

Speaking at a program on ´Management Seminar: Annual Review and Planning Workshop´ organized by the Inland Revenue Department, Mahat said the need of the hour is to exchange reform ideas from the experiences gained in the departments. He also directed officials of tax administration to bring about reforms by learning from past experiences.

Finance Secretary Suman Sharma urged tax officials to respect dignity of work.

IRD has to work to meet the target of collecting Rs 168 billion in revenue in the current fiscal year.

Saying that the government should also bring programs for social justice amid mounting development expectations of general people, Mahat said tax officials have a greater role to provide resources by collecting taxes to implement such programs.

“Job creation and tax collection can be increased only by ensuring investment-friendly environment in the country,” Mahat said, adding: "The tax administration should employ the latest Information Technology (IT) products for making revenue collection system more effective."

Source: Republica