Revenue Dept forms two Flying Squads
KATHMANDU, June 2:
Department of Revenue and Money Laundering Investigation has formed two separate Flying Squads to curb revenue leakages across the country.
“The squads will be deployed at the western and eastern part of the country,” director general Shanta Bahadur Shrestha said, adding that the units are entrusted with the right to confiscate any vehicle, goods and check accounts of firms and other business houses at any time, if they are suspicious. “The squads are formed under Revenue Leakage (Investigation and Control) Act and will carry out their responsibilities with assistance from local administration and security forces,” Shrestha informed.
The department’s director Balaram Rijal will coordinate the squad in the eastern part and director Laba Thapa will coordinate the squad in the western part. “The squad chief will enjoy the power equal to tax officer and is entrusted with the right to arrest anybody on the spot, if found involved in leakages,” he informed, adding that importer, firms and other business entities that are involved in revenue leakages will be brought under the tax net by the squads.
Earlier, the Finance Ministry has also formed a High Level panel to curb revenue leakages. It is still operational but the department also felt the need to set up separate squads.
The government has come under heavy pressure as it is finding difficult to meet its revenue mobilisation target for the current fiscal year. By the 10th month of the current fiscal year, the government has mobilised Rs 158.98 billion that is, though, 14.7 per cent increment compared to the same period of last fiscal year. The target for the current fiscal year stands at Rs 216 billion. In the remaining two months, the government has to mobilise over Rs 57 billion to meet the target. Customs — one of the key sources of revenue — has been performing poorly since the beginning of current fiscal year.
Source: THT
Department of Revenue and Money Laundering Investigation has formed two separate Flying Squads to curb revenue leakages across the country.
“The squads will be deployed at the western and eastern part of the country,” director general Shanta Bahadur Shrestha said, adding that the units are entrusted with the right to confiscate any vehicle, goods and check accounts of firms and other business houses at any time, if they are suspicious. “The squads are formed under Revenue Leakage (Investigation and Control) Act and will carry out their responsibilities with assistance from local administration and security forces,” Shrestha informed.
The department’s director Balaram Rijal will coordinate the squad in the eastern part and director Laba Thapa will coordinate the squad in the western part. “The squad chief will enjoy the power equal to tax officer and is entrusted with the right to arrest anybody on the spot, if found involved in leakages,” he informed, adding that importer, firms and other business entities that are involved in revenue leakages will be brought under the tax net by the squads.
Earlier, the Finance Ministry has also formed a High Level panel to curb revenue leakages. It is still operational but the department also felt the need to set up separate squads.
The government has come under heavy pressure as it is finding difficult to meet its revenue mobilisation target for the current fiscal year. By the 10th month of the current fiscal year, the government has mobilised Rs 158.98 billion that is, though, 14.7 per cent increment compared to the same period of last fiscal year. The target for the current fiscal year stands at Rs 216 billion. In the remaining two months, the government has to mobilise over Rs 57 billion to meet the target. Customs — one of the key sources of revenue — has been performing poorly since the beginning of current fiscal year.
Source: THT
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