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Published On: March 3, 2024 05:42 PM NPT By: Republica

Internal revenue sub-committee seeks suggestions on revenue for upcoming budget FY 2024/25

Internal revenue sub-committee seeks suggestions on revenue for upcoming budget FY 2024/25

KATHMANDU, March 3: The Revenue Advisory Committee has started working for the budget preparation process for the next fiscal year (FY) 2024/25. The internal revenue sub-committee has asked everyone to send suggestions for policy and legal reform and procedural simplification in the matter of internal tax and other tax system reforms in the coming year.

Interested parties are invited to submit their suggestions to the Policy Analysis Branch of the Inland Revenue Department, Lazimpat, by March 18, 2024.

The sub-committee is especially seeking suggestions on taxes including income tax, value-added tax, excise duty, education service fees, electronic service tax, and e-commerce.

The government has announced the principles and priorities of the next year's appropriation bill in parliament.

The National Planning Commission and the Ministry of Finance have set the budget ceiling and issued guidelines for the budgeting process.

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