Nepal Chamber of Commerce Urges Tax Net Expansion for Revenue Target

The Nepal Chamber of Commerce (NCC) recently met with Finance Minister Dr. Prakash Sharan Mahat and proposed expanding the tax net to meet the government’s revenue collection target. Instead of increasing tax rates, the NCC recommended issuing PAN cards alongside citizenship certificates to widen the scope of taxation. The NCC also urged the government to discourage illegal trade at border areas and mandate the provision of invoices.

In addition, the NCC president suggested implementing a singular interest rate promptly to boost the economy, preparing a time-bound action plan for capital expenditure to manage liquidity, and encouraging the investment of remittance money in productive sectors.

During the meeting, the Finance Minister acknowledged the current economic situation and assured the NCC that he is coordinating with the relevant authorities to implement the budget and monetary policy successfully. He expressed optimism that the economy will recover from the next fiscal year.