Finance Minister Khanal says govt moving ahead with major tax administration reforms

KATHMANDU: Finance Minister Rameshwor Khanal has said the government is moving forward with broad reforms in the country’s tax administration.

Speaking at an economic transformation roadmap program organized by the Confederation of Nepalese Industries (CNI) in Kathmandu on Wednesday, Minister Khanal said the government will introduce a technology-friendly tax system, enabling taxpayers to pay all types of taxes from a single point.

He added that business renewal will soon be done based on tax clearance certificates, and citizens will be able to obtain PAN numbers using their national identity cards.

Khanal said the government will gradually implement the recommendations of the High-Level Economic Reform Commission in an effective manner. He made it clear that since the government is working under an election mandate, it has no plans to change tax rates at the moment.

He stated that the upcoming elected government should review and revise tax rates, as the current administration cannot introduce new policies or administrative decisions once the election code of conduct comes into force.

Minister Khanal also said that the government will introduce reforms in the economic sector that will be directly felt by the public in the coming days.

During the program, CNI urged the Finance Minister to implement the recommendations of its economic reform action plan, which includes improvements in the tax system.