Finance Minister Dr Yuba Raj Khatiwada Friday said the government has put private sector on top priority.
Informing that the government has a policy to simplify tax system, he expressed commitment to encourage tax payers and take action against tax evaders. The minister was inaugurating the 32nd General Convention of the Pokhara Chamber of Commerce and Industry here.
He urged industrialists to bring in suggestions from foreign industrialists on a joint investment referring to an international investment summit for the development of industrial business sector in coming next six months.
He said that preparations are on to amend laws related to investment.
Under the allocation policy of 70 percent revenue collected to the federal government, and 30 percent to the provincial and local levels, he said Rs 114 billion revenue collected so far has been allocated among the provincial and local levels.
Confusing issues regarding the tax system has been pacified, he said, adding that some people had not yet well understood the tax issues, adding that no tax had been levied on agriculture. However, tax had been imposed on agro business. According to him, efforts are on to systematize local markets.
He was of the view of enacting tax-related laws by the local and province governments without contravening with the federal laws. He advised the new municipalities no to impose a burden of tax on locals.
Vice President of Federation of Nepalese Chambers of Commerce and Industry ( FNCCI), Chandra Dhakal, highlighted the significant contribution of private sector to the nation’s development.
Pokhara Metropolis Mayor Man Bahadur GC, FNCCI former president Ananda Raj Mulmi, Baglung Chamber of Commerce and Industry president Jayram Bharai were among those present at the program where the Nepali paragliding team and its coach winning the silver medal in the 18th Asian Games toward paragliding were honored.