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Finance Minister Pun Assures Businesses of Less Harassment for Tax Collection

B360 April 3, 2024, 11:02 am
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KATHMANDU: Nepal's Finance Minister, Barshaman Pun, has assured businesses that they won't be subjected to unnecessary hassle for tax collection purposes.

The assurance came during a meeting with Chandra Prasad Dhakal, President of the Federation of Nepalese Chambers of Commerce and Industry (FNCCI), at the Ministry of Finance in Singha Durbar on Tuesday.

Dhakal informed the Finance Minister that FNCCI members have been facing an increase in unnecessary market inspections lately. He suggested that concerned government bodies were causing problems for businesses due to the recent decline in government revenue collection. Dhakal emphasized that if the private sector is unable to operate smoothly, it will not only affect businesses but also hurt government revenue.

The FNCCI President urged Minister Pun to take initiatives to create a more conducive environment for operating industries and businesses in the country. He highlighted the current need to attract maximum domestic and foreign investment. With the upcoming investment summit, Dhakal expressed his view that the government should respect domestic investors and boost the morale of all businesses.

In response, Finance Minister Pun assured Dhakal that he would take the raised concerns seriously. He reiterated the government's commitment to supporting the private sector in any way possible. He further assured businesses that they wouldn't be unnecessarily harassed for tax collection purposes.

Finance Minister Pun emphasized the need for further collaboration between the government and the private sector for the development of the country's economy. He highlighted that reviving the national economy is the current government's top priority.

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MARCH 2024

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