Govt plans to tighten revenue leakage

KATHMANDU, JULY 30: 

The government is tightening loopholes to achieve its revenue target in the difficult political scenario. Finance secretary Krishna Hari Baskota was on a field trip to eastern region to direct revenue officials on the issue. 

Revenue officials must apply all means to control revenue leakage, smuggling and tax fraud, he said while inspecting Itahari-based Eastern Regional Revenue Investigation Office. Revenue officers should take help from Armed Police Force, Nepal Police and local administration to raid suspected businesses, he said, adding the government wants to maintain zero tolerance when it comes to revenue cheating. 

On the occasion, chief of the office Yognath Paudel said that the office handled 271 cases in the last fiscal year and solved 205 cases. “The remaining 66 cases will be solved soon,” he promised. According to him, the office collected Rs 46.2 million from the cases. 

Similarly, Baskota inspected the Inland Revenue Office, Dharan and directed it to enforce value added tax (VAT) at the retailer’s level. “The office must start market inspection to identify the situation,” he said. “We need to expand the tax net.” 

He interacted with entrepreneurs of Dhankuta on the feasibility of opening an Inland Revenue Office in the district. He also participated in a similar interaction organised by Sunsari Chamber of Commerce and Industry. 

Baskota inspected Biratnagar customs and directed officers to control low valuation of goods. He also inspected the Inland Revenue Office Biratnagar and directed officials to expand the tax net including VAT. 

He also assured Biratnagar-based entrepreneurs to address their demands for continuation of 70 per cent rebate facility on energy demand fee for jute industries, no customs duty on packaging materials, and one-day transit facility for vehicles carrying raw materials.

Source: THT