Saturday, November 16th, 2024

Finance Minister Paudel directs officials to meet revenue target


16 November 2024  

Time taken to read : 3 Minute


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KATHMANDU: Finance Minister Bishnu Paudel has directed relevant government officials to work efficiently to meet the set tax collection targets.

He emphasized that the performance of the Inland Revenue Department and its subordinate offices should not fall behind, urging officials to step up their efforts.

Minister Paudel made these remarks while addressing a program on the occasion of National Tax Day, 2081, held in Kathmandu today.

He expressed dissatisfaction with the department’s performance, noting that it had weakened compared to the previous fiscal year. “You must be more serious about achieving the revenue target,” Paudel reiterated.

The Minister outlined several priorities, including the modernization of tax administration, cost minimization, the development of a technologically skilled workforce, and the expansion of the tax base.

He stressed that expanding the scope of inland revenue collection should be a major focus.

“It is every citizen’s duty to pay taxes. There must be a harmonious relationship between taxpayers and tax authorities. The tax administration should not create unnecessary hurdles for taxpayers,” Paudel added.

Finance Secretary Dr. Ram Prasad Ghimire also spoke at the event, noting that expanding the tax base would happen automatically once the national economy became more vibrant and the investment climate improved.

“In addition to tax collection, we need to focus on stimulating economic activities,” he said.

Dr. Ghimire acknowledged that while the economy had been slow to progress, it was not in a dire state.

“It is wrong to claim that our economy is in poor condition. While the pace is slow, there is no reason to panic,” he emphasized.

He also pointed out that despite normal liquidity, investment and economic activities had yet to pick up speed.

“The government alone cannot drive the results. We are in discussions with the private sector to stimulate economic activities,” he added.

Revenue Secretary Dinesh Kumar Ghimire addressed concerns about the private sector, explaining that the revenue administration is working to address their challenges.

Efforts are being made to implement both policy and structural reforms to improve the tax system.

Publish Date : 16 November 2024 15:32 PM

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Finance Minister Paudel directs officials to meet revenue target

KATHMANDU: Finance Minister Bishnu Paudel has directed relevant government officials