FNCCI starts providing consultation on tax matters

Published On: November 21, 2018 10:01 AM NPT By: Republica | @RepublicaNepal

This photo released by FNCCI shows its President Bhawani Rana (right) and Revenue Secretary Shishir Kumar Dhungana jointly inaugurating Tax Consultation Center at FNCCI Secretariat in Teku on Tuesday. Photo: Fncci Handout/Republica

Businesses can receive service for free

KATHMANDU, Nov 21: The Federation of Nepalese Chambers of Commerce and Industry (FNCCI) has set up Tax Consultation Center at its premise in Teku in order to resolve problems faced by the business community on tax matters.

The unit, which was jointly inaugurated by FNCCI President Bhawani Rana and Revenue Secretary Shishir Kumar Dhungana on Tuesday, will receive tax-related complaints from business community and works to address them.

The unit will forward complaints, which it cannot address on its own, to government agencies including Inland Revenue Department and also the Ministry of Finance.

“The unit will address complaints on its own, or will forward them to the government agencies. This is our effort to make tax administration more practical, effective and friendly,” FNCCI said in a press statement following inauguration of the unit.

The unit, which provides all the services free of cost, will have a lead legal advisor, charter accountants and other staffers. Officiating Director General of FNCCI Gopal Prasad Tiwari also said that the government has also promised to depute a tax officer at the unit for providing facilitation on settling tax-related complaints.

“The unit is of great significance considering the worsening doing business environment on the country,” added Tiwari.

The World Bank's Doing Business Report for 2019 has ranked 110th, five points down from last year's ranking. Cumbersome tax filing process has been blamed for the significant fall in the ranking among 190 countries though the Finance Minister Yuba Raj Khatiwada has objected to the report, arguing that Nepal's ranking lowered due to minor reasons.

Speaking at the inauguration ceremony, FNCCI President Rana said that the tax administration should be business-friendly. "There is a pressing need to ease the process of filing taxes," she added.

Similarly, FNCCI Senior Vice President Shekhar Golchha said that the business community has been suffering from contradictory legal provisions on tax matters.