Kathmandu. Kathmandu: Leaders of the associations associated with the gold and silver business have drawn the attention of Prime Minister KP Sharma Oli to the provision of imposing 2 percent luxury tax on gold and silver transactions in the budget statement for the upcoming fiscal year.
In a meeting held at the Office of the Prime Minister and Council of Ministers, Singha Durbar, a team comprising Chairman of Nepal Gold and Silver Gems and Jewellery Federation Kisan Sunar, President of Federation of Nepal Gold and Silver Dealers’ Association Arjun Rasaili and President of Nepal Gems and Jewellery Association Suman Man Tamrakar demanded reconsideration as the implementation of the tax regime would ruin their business.
The organisations had warned that they would be forced to go on strike if the tax and customs rates were higher than those of neighbouring India as Nepali businesses could not compete. Prime Minister Oli assured the concerned ministries that he would work with the concerned ministries to find a solution to the problem through dialogue and not to go on the path of agitation.
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