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Mon, June 23, 2025

Inland Revenue Department holds 'Management Seminar 2080'

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KATHMANDU: Inland Revenue Department (IRD) organised 'Management Seminar 2080' in the federal capital on Tuesday.

At the inauguration of the programme, Finance Minister Prakash Sharan Mahat expressed concern over negativity dominating the private sector. He said although the country's economy is improving recently, a positive concept has not been developed yet among the general people and private sector.

"Now, as the economy is on a positive path, a positive concept should be developed," Minister Mahat said. He stressed the importance of thinking positively and mentioned that efforts were underway to improve the economy and positive results were being seen.

The Finance Minister said although the government has adopted a policy to increase domestic production the private sector has focused its attention only on business and has not been able to take benefit.

He directed the employees of revenue offices across the country to carry out activities with responsibilities to achieve the revenue target set by the government in the current fiscal year. 

On the occasion, Arjun Prasad Pokharel, Secretary at the Ministry of Finance, said that the government's revenue collection target for the current fiscal year could be met by increasing the tax base. The government is hopeful that the taxation system in Nepal will improve through systematic development and capacity building of the employees, according to Pokharel.

Finance Secretary Pokharel stressed the need to optimise technology and get rid of the manual style of working.  Further, he urged the concerned authorities to emphasize the implementation of the new provisions in the Financial Act. He also called for addressing the concerns raised by the report of the Auditor General, Commission for the Investigation of Abuse of Authority (CIAA) and effectively implementing the decisions of the Revenue Tribunal, Kathmandu.

Similarly, Nepal Chamber of Commerce (NCC) President Rajendra Malla said the government could achieve its revenue target if the scope of tax is extended rather than its base. He suggested bringing the enterprises and individuals under the ambit of the taxation system.

According to NCC President Malla, 40% of goods were being imported into the market through 'Grey Market'. Hence, he stressed that it should be brought under the scope of taxation. "One-door policy should be implemented apart from the enforcing the provision of issuing PAN number along with the citizenship identity card," he said.

Likewise, Confederation of Nepalese Industries (CNI) Vice President Birendra Raj Pandey said that the morale of the private sector was down at the moment and thus said that it should be boosted.

According to him, the taxation system of Nepal should be manufacturing-oriented rather than import-oriented.

Similarly, Federation of Nepalese Chambers of Commerce and Industry (FNCCI) Senior Vice President Anjan Shrestha worried that there were no signs of improvement in the national economy in the current fiscal year. "Taxes in Nepal are higher than in other countries in South Asia. The growth rate of revenue is negative as compared to the growth rate of the gross domestic product (GDP)," he said.

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