NEPALGUNJ, June 26: Nepalgunj Sub-metropolitan City has unveiled a total annual budget of Rs 2.28 billion for the Fiscal Year 2019/20, with Rs 1.21 billion in current expenditure and Rs 1.04 billion in capital expenditure.
The sub-metropolitan city has also set aside Rs 30 million for financial management. It has allocated a total Rs 290 million for its 23 ward offices.
Finance Minister pledges to expand tax base and reform tax regi...
As a major financial policy, the sub-metropolitan city has aimed for expanding its tax net. It has also decided to take a scientific approach in collecting various kinds of taxes. It announced that any kind of venture or business should strictly be registered and renewed, in a move to bring them under the tax net.
As a promotional incentive, enterprises that are environment-friendly or run by women proprietors will be given tax deductions. Tax system for the landlords will also be strictly implemented, according to the annual budget. Also, a program will be implemented to collect tax from house rent.
To expand the tax base and to classify businesses under a scientific taxation system, it is said that revenue rates will be properly managed. The sub-metropolitan city will collect taxes using modern software in the next fiscal year. Likewise, classifications of arable land and land without road access will be done in a scientific manner to tax them accordingly.
To construct Nepalgunj ring road, land pooling will be done in collaboration with Town Planning Committee. Likewise, it will construct Mahendra Park, a water park, and Futaha pond in Basudevpur in public-private partnership model.
The sub-metropolitan city has also announced that communities below the poverty line will be given collateral free loans. Other programs include operation of seven town buses, properly managing livestock farming, constructing children’s park in different wards, establishing casinos and using them for promotion of tourism activities, and installing high-mast lights to enhance the beauty of the town.
