The Finance Bill, 2082 has been passed by the House of Representatives. In today's meeting of the House of Representatives, the Deputy Prime Minister and Finance Minister Bishnu Prasad Paudel submitted a proposal to pass the bill. The bill was passed by a majority.
In today's meeting, the amendments received on the Finance Bill, 2082 were discussed. Answering the questions raised during the discussion on the amendment proposal, Finance Minister Paudel said that many changes were not made with the aim of maintaining stability in the tax policy and creating an investment environment. He said that expanding the scope of
taxes, controlling revenue leakage, bringing the informal economy under the scope of taxation are among the priorities of the Economic Act.
Finance Minister Paudel said that policy stability has been emphasized in view of the fact that changing revenue rates every year can cause problems for investors.
It is a frequent question that there was instability and uncertainty in the tax policy and rate, due to which the investors were not in a position to estimate the tax. This affected the business and industrial sector,'' said Finance Minister Paudel, 'In the past, complaints have been heard that the entire tax system was affected by this situation, so that the Economic Bill, 2082 can convey the message of stability in tax policy and rates, amendments have been proposed only in the necessary and urgent places.'
He said that the provisions of tax exemptions and concessions have been introduced in areas that can encourage industrialists to invest and increase production and productivity and contribute to the overall national economy. Finance Minister Paudel claims that the financial bill for the next financial year has been presented keeping this in mind.
'Taxes are proposed to be conducive to self-sustaining economy and balanced development. As alcohol and tobacco products adversely affect public health, some changes have been made in these products,' said Finance Minister Paudel. He also said that the provision of advance income tax has been removed through the Economic Bill.
All the proposed amendments to the Finance Bill, 2082 were rejected by the majority.
