KATHMANDU, March 18: Finance Minister Barshaman Pun has said a thorough analysis will be carried out on the needs and relevance of tax rates in the budget for the upcoming fiscal year.
During a meeting with journalists at the Ministry of Finance on Sunday, Minister Pun said the reasons would be clearly mentioned if the tax rates were reviewed adding that no question will be raised on the intention behind the decision on change in tax rates. "Transparency will be maintained while determining the tax rates," Minister Pun said.
He said that public participation should be ensured in budget making and determining the tax system as well.
Revised interest rate corridor system introduced
On the occasion, the Finance Minister also emphasized the need for an objective analysis of the relevance of tax exemption given by the government to different sectors.
Minister Pun also argued that a debate was needed on whether or not a multi-rate was needed on value-added tax.
Likewise, he said the ministry has decided to supply some amount of money in the market to ensure a vibrant economy adding that the entire market was slow due to a decline in demand and consumption lately.
Minister Pun said that he was studying ways to make the consumption market and capital market more vibrant.
