•      Sun Jul 21 2024

Finance Minister tables Customs Bill 2080BS in lower house

Barshaman Pun

Kathmandu, March 19: Minister for Finance Barshman Pun has tabled a proposal in the Parliament seeking consideration on the ‘Customs Bill 2080 BS’ for discussions. Finance Minister Pun submitted the proposal in today’s meeting of the House of Representatives (HoR).

According to the Parliament Secretariat, the bill was discussed in the meeting today itself. The government registered the bill in the parliament to facilitate an easier and secured international trade by making the customs process systematic, transparent and accountable.

This bill has been registered in the parliament with the aim of increasing the efficiency and effectiveness in the collection of customs duties and contributing to the economic development of the country.

Similarly, it is said that the bill has been introduced to arrange the provisions of the International Convention on Simplification and Harmonization of Customs Procedures (Revised Kyoto Convention) in the law. Nepal is a state party to the Revised Kyoto Convention and the Trade Facilitation Agreement of the World Trade Organization (WTO).

According to the provisions of the Kyoto Convention, the member states have to implement the general provisions within three years of membership and the transitional standards within five years. The draft of this law has been prepared and registered in the parliament for the implementation of the provisions of the convention, it is said. #Nepal

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