KATHMANDU – The Revenue Advisory Committee has submitted a report before Deputy Prime Minister and Finance Minister, Bishnu Prasad Paudel.
At a programme organized at the Finance Ministry today, Revenue Secretary Dinesh Kumar Ghimire, the coordinator of the Committee, handed the report to the Finance Minister.
The Committee has suggested to incorporate all types of financial activities in the tax system and expand tax base as well as to increase scope of digital service tax and to manage statistics received from international service providers.
It also recommended to make record of capital gains tax technology-friendly and transparent, as well as to develop system maintaining interdependence of tax-related statistics and financial statements.
Pointing out the need of making extensive reform in customs system, the report recommended to ensure trade facilitation along with strengthening tax collection as well as to bring digital system into use making customs process simpler, transparent and information technology-friendly.
The Committee also recommended to identify non-tax sources to categories government’s income, to review tax rate and to strengthen institutional structures as well as to prepare clear policy and laws to remove duplication seen in distribution of revenue-related rights among federal, province and local governments.
On the occasion, Finance Minister Paudel said the recommendations of the Committee would be significant in preparing budget for coming fiscal year.
