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Economy

Multi points taxation will be ended soon : FinMin Khatiwada

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SAPTARI — Minister for Finance Dr Yubaraj Khatiwada has reaffirmed that the taxation in multi points would be ended very soon.

Inaugurating the office of the Tax Payers Service at Rajbiraj in the district today, Minister Dr Khatiwada said that the federal government would coordinate with the provincial and local government to end the taxation on wider subjects.

Dr Khatiwada said, “There should be single point tax instead of multi point tax but it will be soon ended and the tax payers could pay tax in a single place.”

He argued that the taxation should be within the parameter of law and stressed on increased the taxation areas as the development of the country was not possible by foreign aid alone.

The Minister stated that there were false rumours doing rounds among the public but it is imperative to develop the local unit and it is also imperative to develop taxpaying habit.

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Minister Khatiwada opined that the public should be aware about the taxation system while the people’s representatives should make the best utilization of the tax paid by their public.

On the occasion, Minister Khatiwada handed over the certificates to those service seekers reaching out to the Office of the Tax Payers Service to receive IPAN number.

The recipients were Amrita Jha, Sunita Dev and Shambhudev Chaudhary.

Similarly, Secretary at the Internal Revenue Sishir Kumar Dhungel shared that the newly inaugurated office was set up in Rajbiraj to render services to the tax payers.

The office of the internal revenue would be set up soon to bring people under the ambit of tax.

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Economy

Business community demands slash in interest rate

Pratigya Waiju

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BIRATNAGAR— The industrialists and traders in Biratnagar have asked the government to immediately reduce the high interest rate charged by the bank and financial institutions (BFIs) from the borrowers.

They argued that the interest rate should be around seven percent for the production-based industries and up to nine percent for the trading firms.

At a programme jointly organised by Industry Association Morang and Trade Association Morang on Thursday, the business leaders drew attention of the government to that end adding that job creation for the labour force of 500,000 was not likely only from the industry and trade sectors.

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Stressing the need for slashing the interest rate, they also argued the central bank should realise the reality that no bank was running out of loss. The industrialists and businesspersons said that industries and business should flourish to reduce the trade deficit, strengthen the economy and create more job opportunities.

Industrialists Bhim Ghimire, Pawan Kumar Sharda, Sushen Pyakurel, Moti Dugad and others said that bank’s interest rate should be low to increase the domestic investment and lure the foreign investment.

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