MoF ask suggestions for the upcoming budget

KATHMANDU: The budget preparation process for the next fiscal year (FY) 2023/24 has begun. Under this, the Inland Revenue Department has solicited suggestions from the general public and stakeholders for internal revenue-related issues.

Suggestions for the preparation of the fiscal law and budget for the coming fiscal year have been requested.

Stakeholders, according to the department, can make suggestions on income tax, VAT, excise duty, education service fee, electronic service tax, and overall tax system reform.

Organizations, government agencies, intellectuals, public and stakeholders have made such a demand to the department.

This work was done last year through the permanent mechanism of the Revenue Consultative Committee, but it is now back on the Ministry of Finance’s shoulders. The previous administration abolished the permanent structure established for revenue consultation.