Manipulation of tax rates to increase revenue in Bagmati

Ashad 3, 2082

Subas Bidari

Manipulation of tax rates to increase revenue in Bagmati

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The government of Bagmati province is going to adopt new policies to increase the collection of taxes and revenue in the next financial year 2082/083.

The province has set a target of collecting 28 billion 87 billion 82 lakh 1 thousand rupees from taxes and revenue and 6 billion 79 million 4 lakh 13 thousand rupees from other revenues. The state government has introduced a tax exemption scheme for the vehicle owners who are yet to pay the vehicle tax in the transport sector, which aims to collect the highest tax. According to the

budget, vehicle owners who have not paid the vehicle tax and have not renewed their registration certificate until the financial year 2081/82, if they pay the tax and renewal fees and fines for the last three financial years 080/81, 081/82 and 082/83 by June 2083, the vehicle tax, fees and fines of the previous years will be waived. It is clarified in the item number 214 of the budget released by the government, "If the vehicle owners who have not paid the vehicle tax and have not renewed the vehicle registration certificate according to the prevailing laws until the financial year 2081/82, if they submit the vehicle tax and renewal fee for the last three financial years by the end of May 2083, the vehicle tax and renewal fee and fines for the previous financial years will be exempted." In the case of owned vehicles that cannot be put into use after maintenance, the vehicle registration office, with the approval of the Ministry of Transport, will deduct the remaining revenue to be paid by the office where the vehicle is registered and sell it at auction from the office that owns it. Owners of 20-year-old public vehicles registered in Bagmati province will be given a 100% discount on the fine if they submit the remaining vehicle tax and renewal fee to be paid by June 2083 for the purpose of canceling the registration of their vehicle .

Minister of Internal Affairs and Planning Kundanraj Kafle informed that if the businessmen including training centers, factories, workshops and reconditioning houses related to transport services, which are registered but have not been renewed, will be given a 100% discount on the renewal fees and fines incurred in the previous periods if they submit the renewal fee of the last period by June 083. According to him, a 50% discount will be given on the registration fee for domestic investment in hydropower projects, tea farming, coffee farming, cotton farming, flower business, vegetable farming, animal husbandry, dairy, cardamom farming, herb farming and fruit industry.

It is mentioned in the budget statement that fifty percent discount will be given on the registration fee charged when passing the deed of purchase of the land in the name of the industry to establish and operate the industry, except for tobacco, gutkha, benparag and alcoholic industries of indigenous investment . Minister Kafle said, "We have arranged to give a 50 percent discount on the registration fee charged when purchasing land for establishing or expanding a manufacturing industry that directly employs more than 300 people." He said that if women, persons with disabilities, conflict victims, Dalits, minorities or people from endangered communities want to register a private firm, they will be given a seventy-five percent discount on the fees charged according to the prevailing provincial laws.

If the industries, firms and businesses that have not registered and renewed the business firm by the end of May 2083, if they file the renewal fee for the financial year 2081/82 and renew it, the fine for the financial year before the financial year 2080/81 will be waived in the budget . In the budget, the rates of entertainment tax levied in cultural performance halls, concerts, theaters and theaters, double evenings, dance bars, night clubs, casinos, parks, futsal, swimming pools, ziplines, swings, sky glass bridges, bungee jumps etc. have been revised and expanded.

Based on the recommendations of the Provincial Revenue Consultative Committee, the Ministry has informed that occasional changes have been made in advertisement tax, entertainment tax, vehicle tax, business registration and renewal fee and other service fees while keeping the real estate registration fee unchanged. The budget has arranged that the service fee collected from the services provided by the health institutions including hospitals and district Ayurveda and alternative hospitals will be deposited in the Provincial Accumulated Fund.

By investing more in the development and expansion of agriculture, forestry, tourism and information technology sectors, the internal income of the province will be increased by increasing production and productivity, and the provincial government has taken a policy that the province will receive a certain percentage of the income from such projects by giving priority to the projects and projects that are built with the full or cooperation of the province and transferred to the local level.

The Bagmati state government has allocated a budget of 67 billion 47 billion 73 lakh 27 thousand rupees for the coming year 2082/083. From the budget for the coming year, 26 billion 46 million 91 thousand rupees i.e. 38.6 percent and 42 billion 43 million 26 lakh 36 thousand rupees i.e. 61.4 percent of the capital budget have been allocated.

Subas

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