“Economy should be restructured to develop export oriented revenue.” Says Chandra Prasad Dhakal, Senior Vice-President of FNCCI
17th Nov, 2021 | Tourism Mail Crew
KATHMANDU, Nov 17: Chandra Prasad Dhakal, Senior Vice-President of the Federation of Nepalese Chambers of Commerce and Industry (FNCCI), said that the range of tax should be widened to reach more people.
Speaking at a program organized by Inland Revenue Office Birtamod and Birtamod Chamber of Commerce and Industry in Damak today on the occasion of the 10th National Tax Day, Senior Vice President Dhakal said that the range of tax should be extended to more citizens and development oriented revenue system should be developed.
He said that the current revenue from imports is 48 percent, adding that the share of import-based revenue should be gradually reduced. He said that the economy should be restructured to develop an export-oriented revenue system while gradually reducing the import-based revenue system.
He suggested that the share of income tax, value added tax, etc. should be increased by increasing domestic production and establishing indigenous industries. Stating that the tax range can be increased by making the tax administration service-friendly, he said that the private sector has always been supporting the programs brought by the tax administration.
Recalling that he has been honored many times as a taxpayer, he said, "The program of honoring the taxpayer will increase the internal competition and create an environment to pay more taxes and contribute to the state next year.” Due to the contribution of the country's private sector, revenue increased by 24 percent last year during the Covid pandemic, Dhakal said. He said that the private sector is supporting the tax administration with a sense of responsibility.
Senior Vice President Dhakal said that the revenue could be further increased if the private sector could move forward with confidence and support. He said that the tax administration and the local government should also move ahead by trusting the private sector as a source of revenue.
The best taxpayers were honored at the program by Senior Vice President Dhakala, Chief of Inland Revenue Office Jhapa Shubh Rijal and others. Among the honorees are Ajay Sahebwala of Sahebwala Trading Pvt. Likewise, Tika Dutta Dahal has been honored as the best employee on the occasion.