Kathmandu. After the abolition of the Department of Revenue Investigation, the Customs Department and the Internal Revenue Department will be strengthened. The research units in both the departments will be strengthened.
The Cabinet has decided to repeal the Revenue Leakage (Investigation and Control) Act, 2052 in point 19 of the ‘Economic Action Plan-2082 BS’. Point 43 of the action plan states that the laws related to revenue will be amended.
The third point regarding the reform is to abolish the Department of Revenue Research, which improves the structure of the Revenue Tribunal and increases the level and increases the capacity of other bodies. “It is mentioned. This work will be completed within a year. Separate units have been set up at the Customs Department and the Inland Revenue Department to investigate revenue leakage. The Department of Internal Revenue is headed by the Deputy Director General of the Excise and Research Division.
This branch can be upgraded to investigate all types of revenue leakage. For this, it is necessary to increase the capacity of this division. Similarly, questions of conflict of interest may arise to prevent tax leakage from offices under their own departments. Similarly, an investigation and compliance wing has also been set up at the Customs Department. It is headed by an under-secretary. There is a need to increase the effectiveness of this branch.
According to the Ministry of Finance, the budget for the upcoming fiscal year 2082/83 will include some topics to increase the research capacity of the two departments. The High-Level Economic Suggestion Commission had proposed to scrap the Department of Revenue Investigation and the act related to it after public complaints started increasing that the Department of Revenue Investigation had only hurt the industrialists.
The commission had formed a committee under the leadership of three secretaries on which suggestions should be implemented and which should not be implemented. Secretary at the Prime Minister’s Office Chunamadi Poudel, Revenue Secretary Dinesh Ghimire and Commerce Secretary Gobinda Bahadur Karki were present on the occasion.
They have prepared an action plan on 408 points for the fiscal year 2082/83 BS. Other revenue-related reforms include the addition of provisions related to general anti-avoidance rules in the VALUE Added Tax Act.
The government plans to gradually reduce the number of excise duty items and limit them to items that have adverse effects on public health and the environment.
It has been decided to fix the customs duty on imports from friendly countries like India and other countries without much difference in the price between the two countries and to change nepal’s customs duty in time keeping in view the change in customs duty of friendly country India.
The government plans to make contemporary revisions in the rates of non-tax revenue and increase the government’s income from royalty, fees, disinvestment and dividends.
It has been decided that the use of tax laws will not work effectively. There is a plan to link the tax and non-tax revenue paid at the state and local levels with the PAN number. It has been decided to impose only 10 percent income tax on export income.
It is the government’s decision to settle tax issues and disputes on time. Sale of shares to the private sector by converting government-owned institutions into public limited companies
The government plans to do so.
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