The Fourth National Conference of Accounting Professionals has started in Kathmandu from Tuesday with the slogan 'Economy transformation through modernization of taxation and public financial management'.

Inaugurating the program, Deputy Prime Minister and Finance Minister Bishnu Prasad Paudel expressed his belief that the conference will draw appropriate conclusions from the analysis of the experience gained in the history of accounting business in Nepal. Finance Minister Paudel also informed that the government is working seriously to modernize the tax system, improve tax policies, expand the scope of taxes and discourage tax evasion.

Finance Minister Paudel pointed out the need for modernization and reform of public finance management and said that accountants will play an important role in this. "The nation has high expectations from this organization and accounting professionals who are affiliated to this organization for good governance, transparency, maximum and highest use of resources," he said, "I believe that ICAN will be a more effective and organized effort to fulfill that expectation." In the

program, Shivraj Adhikari, Vice Chairman of the National Planning Commission, said that the tax system and the modernization of public finance management as the main tools for the transformation of the economy are important for the government's planning and economic reforms.

There is a need for reform in both Nepal's tax system and the government's spending methods, the official said, and the government and accountants should work together on this. "The Planning Commission has talked about the Planning Bank, saying that we should not allocate budget for projects worth less than 30 million," he said, "All this is to maintain transparency in budget allocation." You are also in this line. It is also the right time to go together with both of them.'

program organizer ICAN President CA Pravin Kumar Jha said that the conference will play an important role in strengthening the public finance management system and reforming the tax system of Nepal.

He also expressed his belief that the Ministry of Finance will cover the findings of the conference as the government is preparing the budget for the next financial year 2082/2083.

Modernization of tax administration, use of technology, analysis of data and adherence to international practice are the current needs, he said, and accountants also have yet to work on this.

We have made a lot of progress in the field of taxation in the past, but there is still work to be done. Even now, the accounting and financial reporting system has not been implemented in the business decisions of organizations,' he said, 'it should be improved. When decisions are made on the basis of financial data, only then will the business understand our value. In the

program, Badri Prasad Bhattarai, senior vice president of the Auditors Association of Nepal (Adan), said that the development of a transparent and accountable tax system and the establishment of result-oriented public finance management are important to maintain financial discipline.