Finance Minister Dr. Swarnim Wagle Presents Bill to Amend and Repeal Certain Nepal Laws Related to Finance, 2083 in House of Representatives

Kathmandu. Finance Minister Dr. Swarnim Wagle has presented the 'Bill to Amend and Repeal Certain Nepal Laws Related to Finance, 2083' in the House of Representatives.

Minister Wagle presented the bill to the House in the meeting held on Tuesday. As no objection notice was received from any member on the proposal seeking permission to present the bill as per Rule 105 of the House of Representatives Regulations, 2083, the Speaker granted permission to present the bill.

Shedding light on the objectives of the bill, Finance Minister Wagle stated that it is necessary to repeal legal and institutional provisions that are not in line with the spirit and intention of the Constitution of Nepal and appear irrelevant in the current federal governance structure. According to him, this bill has been formulated with the objective of ending legal duplication and ensuring effective public service delivery with less time and cost.

The proposed bill proposes to repeal the Provincial Development Plans Implementation Act 2013, the Nepali Currency Circulation Enhancement Act 2014, the Revenue Ticket Fee Act 2019, the Revenue Leakage (Investigation and Control) Act 2052, the Act Related to Institutions Conducting Financial Intermediation 2055, and the Revenue Leakage (Investigation and Control) Regulations 2070. The same bill aims to amend the Value Added Tax Act 2052, the Income Tax Act 2058, and the Customs Act 2082 in a timely manner.