KATHMANDU: The House of Representatives (HoR) has passed the Finance Bill, 2083.
Finance Minister Dr. Swarnim Wagle presented a proposal seeking approval of the bill, which was endorsed by a majority vote in today’s parliamentary session.
Earlier, responding to questions raised during the discussion on amendments to the bill, Finance Minister Wagle said the government would place special emphasis on budget implementation and that the issue of low capital expenditure would be addressed from the next fiscal year.
He clarified that the taxes imposed by the government would not affect low-income groups. Stating that the government has introduced an ambitious budget aimed at economic reform, he expressed confidence that its positive impact would be visible from the next fiscal year.
Minister Wagle informed that a high-level study committee would be formed to examine the issue of multiple VAT rates, and that the ministry would take necessary decisions based on its recommendations.
He further said that budget expenditure would be managed through the country’s internal resources, adding that if revenue collection faces challenges, emergency arrangements could be considered.
He also said the government is working to bring ride-sharing businesses into the tax net, noting that the sector is worth billions of rupees.
Meanwhile, several amendments to the Finance Bill were withdrawn, some were rejected, while others were accepted.
During the meeting, lawmakers Hari Prasad Bhusal and Sushil Khadka withdrew their amendment proposals, while amendments proposed by Ganga Laxmi Awal, Dr. Pushpa Raj Kandel, Harka Raj Rai, Parbati BK, and Narendra Kumar Kerung were rejected by a majority vote.
Following the passage of the Finance Bill, a clause-wise discussion is currently underway on the Bill to Raise Public Debt, 2083.
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