Kathmandu. Finance Minister Dr Swarnim Wagle has said developing a culture of giving and receiving VAT bill would play a significant role in controlling revenue leakage and expanding the tax net. <\/p>\n
Speaking at the first announcement of taxpayers incentive programme here today, Minister Khatiwada said the government aims to make tax system more transparent and effective through digital system. <\/p>\n
“We believe that the digital means for taxpayers to adopt the digital medium and develop the bill generation culture will help in stopping our revenue leakage and involve those who are outside the tax net in the building of the country in a formal and transparent manner,” he said. We will continue to improve it. This is possible today due to a combination of technology and policy. \u2019<\/p>\n
Saying the revenue collection target for the current fiscal year is very ambitious, Finance Minister Wagle said it was necessary to expand the tax net to meet it. <\/p>\n
“This year, we have set a target to collect Rs 1,580 billion in revenue,” he said. Therefore, through such programs, we aim to broaden the tax net and encourage everyone to join the formal economy. We are very optimistic that this program will be successful. \u2019<\/p>\n
Stating that misuse of VAT bill and the practice of fake transactions would be discouraged, he made it clear that precautionary measures would be adopted instead of punitive in the initial phase. <\/p>\n
He said, “There has also been a practice of deducting VAT bills and some fake transactions. We discourage such activities. At first, we will proceed in a softer way than punishment and try to remind the concerned party. \u2019<\/p>\n
He expressed the belief that if the taxpayer incentive program is implemented effectively, it can set an example at the international level. <\/p>\n
“We hope that if this program is as successful as we want, it will be emulated at the international level.” \u2019<\/p>\n","protected":false},"excerpt":{"rendered":"
Kathmandu. Finance Minister Dr Swarnim Wagle has said developing a culture of giving and receiving VAT bill would play a significant role in controlling revenue leakage and expanding the tax net. Speaking at the first announcement of taxpayers incentive programme here today, Minister Khatiwada said the government aims to make tax system more transparent andContinue reading “‘Taxpayer incentive programme can set an international example if successful’: Finance Minister”<\/span><\/a><\/p>\n","protected":false},"author":11,"featured_media":97479,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1391],"tags":[],"class_list":["post-97848","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized-en"],"acf":[],"publishedDateNp":"\u0968\u0968 \u0936\u094d\u0930\u093e\u0935\u0923 \u0968\u0966\u096e\u0969, \u0936\u0941\u0915\u094d\u0930\u092c\u093e\u0930 \u0967\u0966:\u096b\u096d","_links":{"self":[{"href":"https:\/\/kalopati.com\/kp_api\/wp\/v2\/posts\/97848","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/kalopati.com\/kp_api\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/kalopati.com\/kp_api\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/kalopati.com\/kp_api\/wp\/v2\/users\/11"}],"replies":[{"embeddable":true,"href":"https:\/\/kalopati.com\/kp_api\/wp\/v2\/comments?post=97848"}],"version-history":[{"count":1,"href":"https:\/\/kalopati.com\/kp_api\/wp\/v2\/posts\/97848\/revisions"}],"predecessor-version":[{"id":97849,"href":"https:\/\/kalopati.com\/kp_api\/wp\/v2\/posts\/97848\/revisions\/97849"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/kalopati.com\/kp_api\/wp\/v2\/media\/97479"}],"wp:attachment":[{"href":"https:\/\/kalopati.com\/kp_api\/wp\/v2\/media?parent=97848"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/kalopati.com\/kp_api\/wp\/v2\/categories?post=97848"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/kalopati.com\/kp_api\/wp\/v2\/tags?post=97848"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}