Govt accords high priority to private sector: Minister Khatiwada


Pokhara, Sept. 21: Finance Minister Dr Yubaraj Khatiwada today said the government has put private sector on top priority.
Informing that the government has a policy to simplify tax system, he expressed commitment to encourage tax payers and take action against tax evaders. The minister was inaugurating the 32nd General Convention of the Pokhara Chamber of Commerce and Industry here.
He urged industrialists to bring in suggestions from foreign industrialists on a joint investment referring to an international investment summit for the development of industrial business sector in coming next six months.
He said that preparations are on to amend laws related to investment.
Under the allocation policy of 70 percent revenue collected to the federal government, and 30 percent to the provincial and local levels, he said Rs 114 billion revenue collected so far has been allocated among the provincial and local levels.
Confusing issues regarding the tax system has been pacified, he said, adding that some people had not yet well understood the tax issues, adding that no tax had been levied on agriculture. However, tax had been imposed on agro business. According to him, efforts are on to systematize local markets.
He was of the view of enacting tax-related laws by the local and province governments without contravening with the federal laws. He advised the new municipalities no to impose a burden of tax on locals.
Vice President of Federation of Nepalese Chambers of Commerce and Industry ( FNCCI), Chandra Dhakal, highlighted the significant contribution of private sector to the nation's development.
Pokhara Metropolis Mayor Man Bahadur GC, FNCCI former president Ananda Raj Mulmi, Baglung Chamber of Commerce and Industry president Jayram Bharai were among those present at the programme where the Nepali paragliding team and its coach winning the silver medal in the 18th Asian Games towards paragliding were honoured. RSS

Related News

Parliamentary committee directs govt to present casino regulations bill

Kathmandu, Sept 30: The Social Justice and Human Rights Committee under the Legislature-Parliament today has directed the government to bring the then enterpriser of Nepal Recreation Centre under the ambit of law. The centre was accused of not paying the tax to government and not providing the salary to the…

Essar-Rosneft deal not violative of sanctions: U.S.

WASHINGTON, Oct. 20: The United States does not see violation of any U.S.-EU sanctions in the recent deal between India’s Essar Oil and the Russian oil giant Rosneft, in which the Russian government has a majority stake. “I don’t think we see any violation of any U.S.-EU sanctions stemming from this…

Despite efforts, India moves up only one place on ease of doing business rankings

NEW DELHI, (INDIA), Oct. 26: India moved up only one position in the International Finance Corporation's (IFC) ease of doing business rankings, triggering a strong reaction from the Indian government which said the string of reform initiatives undertaken by it in the last one year had not been factored in by the World Bank arm. The…

Nepal eligible for MCC fund

Kathmandu, Nov. 5: Nepal has passed 16 out of 20 indicators on U.S. Millennium Challenge Corporation’s Scorecard, and thus become eligible for receiving MCC fund. The U.S. Government’s Millennium Challenge Corporation (MCC) released its fiscal year 2017 scorecards this week – a key component in the agency’s annual competitive selection…

Indian Rs. 500, Rs. 1000 currency notes to be out of circulation from midnight Tuesday

NEW DELHI, Nov. 9: Indian Five hundred and 1,000 rupee notes will cease to be legal tender from midnight on Tuesday, Prime Minister of India Narendra Modi announced in a surprise address to the nation. He said the decision was taken to root out the menace of black money and corruption.…

Pakistan won't be able to copy new notes: Intelligence agencies

NEW DELHI, Nov. 10: Intelligence agencies of India vetted the new denominations of Rs 2,000 and Rs 500 notes asserting that its security features will be next to impossible to replicate for Pakistan and organised criminal networks for some time to come.A top government official without going into the details,…


Find Us on Facebook

From Social

Tokyo (Japan), Sept. 13: A new leadership assumed responsibilities at the Non Resident Nepalese Association (NRNA), Japan on Sunday. The new office bearers took oath of office and secrecy after a long fought battle resulting from dissatisfaction from those who…

Lama led officials assume responsibility in NRNA Japan