Finance Minister Swarnim Wagle Reduces Customs Duty Levels to Seven

Kathmandu. Finance Minister Swarnim Wagle has announced the reduction of customs duty of various 11 levels to 7 levels. Presenting the budget statement for the upcoming fiscal year (2083/084), Finance Minister Wagle informed that a wide reshuffling has been done in the tax limit.

He stated that the government has adopted a policy of making people partners in development rather than punishing them for tax compliance. He also announced the abolition of excise duty levied on various 360 goods.

He mentioned that the country is currently at a decisive stage of major economic reform. He stated that the objective of this budget is to turn the existing various challenges into opportunities.