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TIN urges govt to withdraw Economic Income Tax Act (amendment)

2021 Sep 20, 19:14, Kathmandu
This image shows the office of Transparency Intenational Nepal in New Baneshwor, Kathmandu in November 2017. Photo courtesy: Shiva Raj Paudel

Transparency International Nepal (TIN) has urged the government to withdraw the amendment proposal of the Economic Income Tax Act, 2058 BS.

Finance Minister Janardhan Sharma had tabled the proposal before the Parliament.

The TIN has drawn the attention of the government through a press statement issued today over the provision of 'source of income shall not be reviewed for investment' in the Act while investing in various sectors.

The TIN has suggested the government withdrawing the proposal citing that the proposed amendment to the Act will only help high-level political, administrative, and business people inside or outside the country in money laundering.

"Such a proposal would encourage corruption, increase tax evasion and launder black money," the statement issued by the TIN read.


Transparency International Nepal TIN Govt Withdraw proposal Economic Income Tax Act press statement Finance Minister Janardhan Sharma Money Laundering tax evasion Black Money corruption
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