FNCCI urges PM to clarify on tax ambiguities

Published On: February 25, 2018 10:54 AM NPT By: Republica  | @RepublicaNepal

KATHMANDU, Feb 25: The private sector has urged Prime Minister KP Sharma Oli to clarify on the tax ambiguities particularly in local levels and provinces at the earliest.

A delegation led by the president of Federation of Nepalese Chambers of Commerce and Industry (FNCCI), Bhawani Rana, met with PM Oli on Saturday and asked him to address confusions the businesses community and enterprises have faced on this issue. She also asked him to put the economic agenda on top priority.

“The confusion arising from the tax has dampened the confidence of the investors and this should be addressed in time,” Rana told the PM, according to a press statement issued by FNCCI after meeting with the PM. Few local levels have imposed taxes on their own, and the business community is apprehensive of multiple taxes between the provinces on supply of goods and services, among others. 

The executives of the largest umbrella of the private sector also advised the PM to declare prosperity programs for a period of next ten years. Responding to issues raised by the delegates, PM Oli assured that he only economic agenda was that of ‘prosperity’. “The private sector should play a great role in my single agenda of economic prosperity,” said PM Oli.

The PM also announced that he will form a consultation group comprising leaders and entrepreneurs of the private sector address its issues. 

He also asked the private sector to begin expansion of their businesses and generate more employment immediately. He asked them to come up with concrete advices, assuring that he was ready to address the issues immediately. 

The FNCCI has recently started deliberations with new provincial governments, looking for economic opportunities within the provinces.

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