Finance Minister indicates potential tax rate changes

KATHMANDU: Finance Minister Barshaman Pun has hinted at potential changes in tax rates in the upcoming fiscal year's budget, emphasizing a comprehensive analysis of tax needs and relevance.

Addressing journalists at the Ministry of Finance on Sunday, Minister Pun assured transparency in any review of tax rates, stating that clear reasons would accompany any adjustments.

He stressed the importance of public involvement in both budget formulation and tax system determination.

Furthermore, Minister Pun underscored the necessity for an objective assessment of government-granted tax exemptions across various sectors and advocated for a debate on the applicability of a multi-rate system for value-added tax (VAT).

In addition to tax considerations, Minister Pun revealed plans to inject funds into the market to stimulate economic activity, acknowledging a recent slowdown in demand and consumption.

He expressed intentions to explore strategies to invigorate both consumption and capital markets for a more dynamic economy.