KATHMANDU, June 18: In a bid to address the issue of unpaid taxes on 20-year-old public vehicles, the Bagmati province government has introduced a new measure that grants a generous 90% discount on fines.
The announcement was made by Bahadur Singh Lama (Tamang), the Economic Affairs Minister of the provincial government, during the release of the budget for the upcoming fiscal year 2023/24 on Friday.
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Minister Lama stated that the 90% discount will apply to fines paid by public vehicle owners until mid-March 2024, which falls in the month of Falgun as per the Nepali calendar. According to the budget statement, if the taxes and renewal fees for 20-year-old public vehicles, which are no longer operational due to their completion of 20 years of registration at the Transport Management Offices of Bagmati Province, are paid by the end of mid-February, the penalties charged will be reduced by 90%. Additionally, the relevant offices will deduct the costs associated with such vehicles.
Bagmati province is home to the largest number of vehicles in the country. Despite government policies aimed at phasing out old vehicles, a number of many have remained in use. As part of its efforts to incentivize vehicle owners, the provincial government has also introduced a policy allowing tax exemption for those interested in converting their diesel or petrol engines to electric power.
