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Deputy Prime Minister and Finance Minister Bishnu Prasad Paudel has said that the government is in favor of a stable tax policy. Speaking at an event held in Kathmandu on Friday, he mentioned that consumers and businessmen complain that the government is doing 'up and down' tax policy, which has caused problems in trust.
He urged them to remain confident now and not to expect frequent changes in tax policies.
He also said that it is necessary to increase the range of taxes. He said that the government is basically in favor of a tax policy and relative stability in tax rates and has brought the budget for the next financial year accordingly.
Deputy Prime Minister Paudel said, "Recently, consumers and businessmen are suspicious of the tax policy. It is suspected that the government will keep going up and down. But there is no reason to doubt that. We are in favor of a stable tax policy. It is necessary to increase the scope of tax. There may be a need for collective revision in the tax rates, but our emphasis is on keeping the policy stable.
He mentioned that the work of promoting hydropower production and bringing in flexible policies has been done in the past, and he also made it clear that favorable policies will be brought to attract private sector investment for the development of the sector.
