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Thursday May 30, 2024

Finance Minister says tax rate will not be changed arbitrarily


Nepalnews
2024 May 13, 7:50,

Finance Minister Barshaman Pun has said there will not be change in the tax rate arbitrarily in the upcoming fiscal year's budget.

At a pre-budget discussion here Sunday, Minister Pun said economy should be made vibrant by ending economic slowdown and added that the tax rate will be changed considering the national interests, not to serve other's interests.

He stated that the tax rate will not be changed to serve the near ones and the business firms that are close to his party and the government. The tax rate, if changed, will be done along with the rationale behind it, according to Minister Pun.

He was of the view that a finance minister's move should not ruin the investments made by the private sector for years and said, "(the finance minister) should discharge the duty given by the people and state obediently".

Likewise, Minister Pun added that the government was clear for prompting open and transparent business policy since Nepal is practising democratic, open and competitive governance system.

Similarly, Minister Pun mentioned that the government was expecting the private sector to take on board the journey of development and prosperity.

He pledged to end the legal and policy gaps and embrace the best practices on the agendas of economic development.

Saying that he was informed about slowdown of the construction sector, Minister Pun assured that the government was working to unlock the bottlenecks that caused slowdown in this sector.

Likewise, the Finance Minister shared that the present government was in the situation to shoulder the liability of around Rs 600 billion from the last three or four years.


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