Finance Minister Yubaraj Khatiwada directed the Department of Revenue Investigation (DoRI) to ensure that all economic activities in the country are brought within the tax net of the government. Addressing a management symposium organised by DoRI on August 4, Minister Khatiwada said that effective tax administration is necessary to ensure proper implementation of different social security schemes of the government and the entire development process of the country which is why it is necessary to expand the tax net by bringing in every economic activity within it.
“The government intends to bring all economic activities under the tax net and ensure people’s social security. For this, the government will focus on stricter tax laws and their implementation,” said Khatiwada. Moreover, Finance Minister Khatiwada said that along with bringing all economic activities under the tax net, the government will also ensure conductive business environment in the country and promote investments which are necessary to prosper the country. “The government is here to promote businesses. However, there has to be healthy competition and all businesses should operate as per existing laws,” he added.
Though revenue collection has been increasing in recent years, Minister Khatiwada said that the collection has not been satisfactory. Moreover, he stated that the new provision that makes Permanent Account Number mandatory for all salary earners is part of bringing in all people under the income tax net of the government. “Our intention is to collect revenue that is driven by quality tax administration,” Khatiwada highlighted.