Govt calls for suggestions and feedback on revenue policy

The government has sought feedback and suggestions from the stakeholders on the revenue policy to be included in the financial act for the coming fiscal year 2080/81.

Issuing a notice on Sunday, the Ministry of Finance has appealed to all concerned to provide their feedback by April 3, covering matters concerning customs duties, value added tax, income tax, excise duty, non-tax revenue, and revenue leakage control.

The notice was issued by the Revenue Advisory Committee, which has been working as a mechanism to give feedback and suggestions on revenue management to the government. Based on suggestions and feedback received from various quarters, the committee will submit a report to the government.

Suggestions are also being sought on enacting new tax laws, repealing if necessary any legal provisions and changing tax rates.

The Ministry of Finance has also informed that nine different thematic sub-committees have been formed to prepare the report of the Revenue Advisory Committee.