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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

NEPSE stabilises

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KATHMANDU- The Nepal Stock Exchange (Nepse) index has stabilised to some extent as compared to the first trading day on Sunday when it suffered a sharp dip.

The NEPSE index increased 0.9 points to close at 1131.73. Likewise, the sensitive index, which measures the performance of group ‘A’ stocks has also risen 0.06 points.

Over 2 million shares of a total of 156 companies were traded at more than Rs 637 million. Of the total 11 subgroups, four made gains, and the rest seven declined.

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Development bank surged 4.7 points, while non-life insurance 92.1 points, life-insurance 13.57 points and others 0.43 points.

But, banking dipped 0.27 points, while trade 1.18 points, hotel 2.04 points, hydropower 2.17 points, finance 1.82 points, production 9.21 points and microfinance 8.31 points.

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