Govt to adopt policy to bring in money illegally stashed abroad

KATHMANDU:  The government is making preparations to bring in the black money illegally stashed away by Nepali people in the foreign countries.

The government is adopting a policy enabling the Nepali people to bring in their money illegally stashed away in the foreign lands.

Inland Revenue Department has submitted a report to the Ministry of Finance asking the latter to address this issue in the fiscal budget set to be unveiled on May 28.

It is expected that the policy will encourage the Nepali people to bring in their money from abroad and patch up to some extent the loss incurred by Coronavirus pandemic in the inland revenue of the  country in coming fiscal year.

The number 5 of the report has suggested that the government should make arrangements encouraging Nepali people to bring in their moveable or non-moveable property from the foreign countries without mentioning sources in the next two years.