Share Investor Forum issues strong message against new provision on CGT; urges all investors to hit to strike if government’s tax terror continues

Share Investors’ Forum Nepal has expressed its strongest agitation against the government’s decision to levy Capital Gain Tax on bonus and right shares by keeping paid-up value of share (i.e. par value) as the cost price effective from today. The investors association has sent out strong warning to the government which had earlier decided to jack up CGT from the existing 5% to 7.5% through its first federal budget.

The Inland Revenue Department through its correspondence to NEPSE had enforced the decision all of a sudden today throwing all the investors into panic throughout the day. With the latest revision of tax law, investors will be at the losing end as the portion of their  tax amount will skyrocket no matter if they don’t make any profit margin in their share trading.

The Investors forum has urged all the investors to stay alert so that all can raise collective voice against the tax terror of the government. Terming the latest decision the childish among all other decisions currently being undertaken by the highly learned and technocrat Finance Minister, the association has also demanded for the timely addressal of those issue or to confront their program of strike.