IRD to enhance financial management systems

KATHMANDU, DEC 10: 

Inland Revenue Department (IRD) has said that Nepal’s public financial management systems will improve after the assessment of the Public Expenditure and Financial Accountability reform programme is completed.

“Several reforms were identified under the Public Expenditure and Financial Accountability 

assessment to improve the country’s public financial management systems,” the department said. The government had endorsed the Public Financial Management Reform Programme to implement several reforms from 2009-10. 

Effective implementation of the Public Expenditure and Financial Accountability programme will have an impact on improved tax collection, it said, adding that the department has expected at least four outputs from the implementation of Public Expenditure and Financial Accountability reform programme. It is expected to bring in a simplified and more understandable tax system for taxpayers, it added. 

“Improved access of taxpayers to their personal data, the provision of quality data and statistics for stakeholders, and the strengthening of the Revenue Tribunal are other expected outcomes of Public Expenditure and Financial Accountability programme,” IRD said in its three-year long reform programme.

IRD has said that the tax administration should be more dynamic and progressive to become more effective. In its reform plan, the department has also emphasised on the decentralisation of service programmes and the centralisation of enforcement programmes. 

Similarly, it has also stressed on effective coordination and consultation with taxpayers, stakeholders and partners to effectively mobilise revenue.

Source: THT