Government to Review Tax System in Next Fiscal Year
President Ram Chandra Paudel has announced that the government will review the tax system in the upcoming financial year.
During the presentation of the policy and program for the fiscal year 2080/81 at the joint meeting of the Federal Parliament on Friday, President Paudel emphasized the need to strengthen and streamline the revenue administration. The current tax system will undergo a thorough evaluation, aiming to expand the revenue base and include all economic activities within the formal system.
Additionally, the government has pledged to address issues such as revenue leakage, under-billing, hundi (illegal money transfer), investment in illegal businesses, and the flight of national capital.