Tax net to be widened: FM Pun

KATHMANDU, AUG 17: 

Finance Minister Barshaman Pun has said that the government has given high priority to expanding the tax net rather than increasing the tax rate.

At an interaction programme organised by the Inland Revenue Department with finance department chiefs and CEOs of banks, financial institutions and joint venture and multi-national companies, he said the government was active in giving enough services to tax payers, but admitted expected facilities could not be given because of political transition.

Government has the policy of respecting and encouraging the tax payers, he said and added it was urgent for promoting healthy competition.

He also said his party was engaged in bringing a full-fledged budget by forging political understanding at the earliest and expressed the hope that consensus will be forged soon.

Finance Secretary Krishna Hari Baskota said although overall indexes of economy were satisfactory, there was no situation to be satisfied, and urged chiefs of various banking companies to invest in areas of big potentials.

Nepal Rastra Bank (NRB) Governor Dr. Yubaraj Khatiwada urged the institutions and multinational corporations to find out by acquiring personal PAN numbers, if tax is not paid by large debtors.

Beema Samiti Chairman Fatta Bahadur KC said the Samiti was preparing to run micro insurance for the people under poverty line.

Inland Revenue Department Director General Tanka Mani Sharma informed that revenue was collected as per the target in the first month of the current fiscal year 2069-70 BS.

Source: THT