Kathmandu, May 30: In a bid to develop a robust economy through strengthening and enabling of federal fiscal structure, the government has planned to formulate the Federal Revenue Policy.
Presenting the budget for the fiscal year 2017/18, Deputy Prime Minister and Finance Minister Krishna Bahadur Mahara announced to formulate this policy.
The ambit of revenue would be developed to manage a particular portion of fiscal sources as per their requirement for the province and local levels for their independency.
Likewise, the budget has taken the policy to make the organizational structures of the revenue administration in line with the federalism by expanding the economic activities.
Similarly, a bill on constitution of the central revenue board for structural reforms of the revenue administration would be tabled in the Legislature-Parliament.
On the occasion, Minister Mahara said that the tax rate has not been changed except in the excise duty of liquor and tobacco related goods.
In order to expand the tax ambit, the doctors, engineers, lawyers, advisors, artists, sportspersons, teachers and all others involved in income generating would be given the permanent account number (PAN), Mahara added. RSS
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