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Illegal income banned for investment: Finance Ministry


Nepalnews
2021 Sep 21, 11:25, Kathmandu
This undated image shows the building of the Ministry of Finance in Singha Durbar, Kathmandu. Photo: RSS

The government would not let money laundering, terrorist activities, corruption, and other crimes off the hook.

The Finance Ministry made it clear that the government would not inquire about the income source of the investments made in the infrastructure development and industries of national importance till the end of 2080BS by adding Section 11 in the Income Tax Act, 2058 in line with the financial bill, 2078.

The Ministry stated a press release, showing severe concern over the comments public on Ministry's plan on this new scheme. No illegal activities would be let off the hook in the name of income sources, the Ministry underscored.

According to Ministry Spokesperson Mahesh Acharya, the income made illegally would not be allowed for investment. The government is fully committed to implementing the national and international commitments it made to prevent the financial investment with the money generated from criminal activities, corruption, and laundering

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