KATHMANDU: Minister for Finance, Dr Ram Sharan Mahat, has said that it was necessary to levy tax on profit-oriented education and health, expressing commitment and readiness to increase customs on imports as well.
Responding to queries of lawmakers on the Finance Bill, 2071 BS in today’s meeting of the Legislature-Parliament, Minister Mahat clarified that there would be no enforcement of tax on education and health services operated by the government itself.
He further said that the rate of inland revenue would not be increased until the rise in internal capability of revenue collection.
Stating that the country collected a record amount of tax revenue in transit point in previous fiscal year, the Finance Minister said that income tax was the main source of the revenue, with more than one-third of the total revenue collection.
Minister Mahat said that it was necessary to bring huge investment to increase internal capacity and added that large-scale hotels and communication provider organisations have started paying tax.
He also expressed belief that revenue collection would increase if tax was exempted on hydropower sector for a few years.
Minister Mahat said that process has been initiated to take action against those involved in evading tax as thousands of businessmen were found involved in fake transaction.
Stating that 20 per cent revenue was increased in last fiscal year, easy environment has been created due to installation of information system in customs offices, Dr Mahat said minimum fair would be charged on Indian vehicles entering Nepal in a temporary manner.
Accepting that the government could not collect house-rent tax as per the target due to some administrative problems in urban areas, the Finance Minister expressed commitment that the government would work with determination for the same.
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