VCTS comes into effect from Wednesday « Khabarhub
Thursday, June 13th, 2024

VCTS comes into effect from Wednesday


17 July 2019  

Time taken to read : 2 Minute


  • A
  • A
  • A

KATHMANDU: The vehicle and consignment tracking system (VCTS) has come into effect from Wednesday.

Finance Minister Dr Yuba Raj Khatiwada launched the system in Kathmandu today aimed at keeping track of the whereabouts of the containers and trucks carrying cargo.

Finance Minister stated that the system is a mechanism that would formalize trade and business transactions while making it legal and more transparent. Dr. Khatiwada also expressed the hope that the VCTS will support in the promotion of formal economy at a time when half of the economy remaining in the informal.

The digital system is interlinked with the ASYCUDA at the Department of Customs (DoC) and is affiliated with the Department of Inland Revenue’s (IRD) computerized system.

With its implementation, all business activities can be tracked making the tax-evasion difficult. The Department of Revenue Investigation (DRI) developed the new computerized system that will facilitate the importers, transport entrepreneurs, and businesses with the real-time update of the vehicles’ movement about their consignment and cargo.

Publish Date : 17 July 2019 17:06 PM

Today’s national news in a nutshell

Khabarhub brings you a glimpse of major developments of the

Lawmaker Gurung proposes downsizing federal ministries to 12

KATHMANDU: Deputy General Secretary of CPN-UML, Prithvi Subba Gurung, has

Bhattarai criticizes label of ‘Indian agent’, calls for new political force to address national issues

KATHMANDU: Dr. Baburam Bhattarai, Chairman of Nepal Socialist Party and

CK Raut advocates for directly elected Prime Minister system

KATHMANDU: The Janamat Party Chairman and lawmaker Dr. Chandra Kant

Former CJ Shrestha informed about RSS services

KATHMANDU: Former Chief Justice Kalyan Shrestha today visited the RSS