•      Wed Apr 24 2024

‘No More Tax Rates Hereafter’

Banepa, Aug 16: Minister for Finance Dr Yubaraj Khatiwada has assured that the tax rates could not be expanded more from the present limit.

Inaugurating a newly constructed building of Inland Revenue Office in Dhulikhel on Friday, Minister Khatiwada made it clear that they had already decided to extend the rate and area of income tax in the past fiscal year.

He further shared that there was 36 per cent income tax on the income of over two million rupees, and it would be reviewed in the days ahead.

The value added tax (VAT) was not extended, the Minister said, urging the entrepreneurs to be transparent and competitive in the business.

Speaking in the same programme, Dhulikhel municipality mayor Ashok Byanju viewed that the municipality had not collected tax beyond the spirit of the constitution.

Revenue secretary Lal Shankar Ghimire shared that the office was established there to provide services to the people in a convenient manner.

Industry and Commerce Association chair in the district, Prakash Manandhar said that they were happy to have revenue office at their community.