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<p>The business persons said that the GST has created confusion in the Nepali economic sphere as well. Stating that the entrepreneurs have been gripped by the fear of probable multiple taxation to the provinces as well as the central government in the new federal setup, they pointed out the necessity of issuing white paper by the government to maintain transparency on the taxation system and policy.</p>
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NCC Requests Minister to Study Impact of Indian GST
1 min 29 sec to read
July 3: Business entrepreneurs affiliated to the Nepal Chamber of Commerce (NCC) have requested the government to study the impact of the goods and service tax (GST) of Indian taxation system on Nepal’s economy.
A delegation led by Rajesh Kaji Shrestha, president of NCC, met with Finance Minister Gyanendra Karki on July 2 and drew the attention of the minister about various problems seen in the economic development as well as industrial and business sector of Nepal.
The business persons said that the GST has created confusion in the Nepali economic sphere as well. Stating that the entrepreneurs have been gripped by the fear of probable multiple taxation to the provinces as well as the central government in the new federal setup, they pointed out the necessity of issuing white paper by the government to maintain transparency on the taxation system and policy.
He added that the BFIs charge high interest rates and at times the loan for investment is lacking. “The government should solve these problems as far as possible,” he said.
In the meeting, the business persons also demanded to rethink about the warehouse charges at airport which has been increased unnecessarily.
After hearing the grievances of the business persons, Minister Karki said that the ministry will study the suggestion and implement them soon.
The business persons who reached Singha Durbar to meet the minister demanded income tax waiver for five years to industries that export goods.
Similarly, they also demanded cash grant from customs points.
Likewise, NCC President Shrestha said there should be one window policy on collecting revenue and the unspent capital expenditure should be used for commercial development as re-loan.
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<p>The business persons said that the GST has created confusion in the Nepali economic sphere as well. Stating that the entrepreneurs have been gripped by the fear of probable multiple taxation to the provinces as well as the central government in the new federal setup, they pointed out the necessity of issuing white paper by the government to maintain transparency on the taxation system and policy.</p>
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<p>The business persons said that the GST has created confusion in the Nepali economic sphere as well. Stating that the entrepreneurs have been gripped by the fear of probable multiple taxation to the provinces as well as the central government in the new federal setup, they pointed out the necessity of issuing white paper by the government to maintain transparency on the taxation system and policy.</p>
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Warning (2): simplexml_load_file() [<a href='http://php.net/function.simplexml-load-file'>function.simplexml-load-file</a>]: I/O warning : failed to load external entity "" [APP/View/Elements/side_bar.ctp, line 133]
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'title' => 'NCC Requests Minister to Study Impact of Indian GST',
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'summary' => 'Business entrepreneurs affiliated to the Nepal Chamber of Commerce (NCC) have requested the government to study the impact of the goods and service tax (GST) of Indian taxation system on Nepal’s economy.',
'content' => '<p>July 3: Business entrepreneurs affiliated to the Nepal Chamber of Commerce (NCC) have requested the government to study the impact of the goods and service tax (GST) of Indian taxation system on Nepal’s economy.</p>
<p> A delegation led by Rajesh Kaji Shrestha, president of NCC, met with Finance Minister Gyanendra Karki on July 2 and drew the attention of the minister about various problems seen in the economic development as well as industrial and business sector of Nepal.</p>
<p>The business persons said that the GST has created confusion in the Nepali economic sphere as well. Stating that the entrepreneurs have been gripped by the fear of probable multiple taxation to the provinces as well as the central government in the new federal setup, they pointed out the necessity of issuing white paper by the government to maintain transparency on the taxation system and policy.</p>
<p>He added that the BFIs charge high interest rates and at times the loan for investment is lacking. “The government should solve these problems as far as possible,” he said.</p>
<p> In the meeting, the business persons also demanded to rethink about the warehouse charges at airport which has been increased unnecessarily.</p>
<p>After hearing the grievances of the business persons, Minister Karki said that the ministry will study the suggestion and implement them soon.</p>
<p>The business persons who reached Singha Durbar to meet the minister demanded income tax waiver for five years to industries that export goods.</p>
<p>Similarly, they also demanded cash grant from customs points.</p>
<p>Likewise, NCC President Shrestha said there should be one window policy on collecting revenue and the unspent capital expenditure should be used for commercial development as re-loan. </p>
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'content' => '<p>July 3: Business entrepreneurs affiliated to the Nepal Chamber of Commerce (NCC) have requested the government to study the impact of the goods and service tax (GST) of Indian taxation system on Nepal’s economy.</p>
<p> A delegation led by Rajesh Kaji Shrestha, president of NCC, met with Finance Minister Gyanendra Karki on July 2 and drew the attention of the minister about various problems seen in the economic development as well as industrial and business sector of Nepal.</p>
<p>The business persons said that the GST has created confusion in the Nepali economic sphere as well. Stating that the entrepreneurs have been gripped by the fear of probable multiple taxation to the provinces as well as the central government in the new federal setup, they pointed out the necessity of issuing white paper by the government to maintain transparency on the taxation system and policy.</p>
<p>He added that the BFIs charge high interest rates and at times the loan for investment is lacking. “The government should solve these problems as far as possible,” he said.</p>
<p> In the meeting, the business persons also demanded to rethink about the warehouse charges at airport which has been increased unnecessarily.</p>
<p>After hearing the grievances of the business persons, Minister Karki said that the ministry will study the suggestion and implement them soon.</p>
<p>The business persons who reached Singha Durbar to meet the minister demanded income tax waiver for five years to industries that export goods.</p>
<p>Similarly, they also demanded cash grant from customs points.</p>
<p>Likewise, NCC President Shrestha said there should be one window policy on collecting revenue and the unspent capital expenditure should be used for commercial development as re-loan. </p>
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simplexml_load_file - [internal], line ??
include - APP/View/Elements/side_bar.ctp, line 133
View::_evaluate() - CORE/Cake/View/View.php, line 971
View::_render() - CORE/Cake/View/View.php, line 933
View::_renderElement() - CORE/Cake/View/View.php, line 1224
View::element() - CORE/Cake/View/View.php, line 418
include - APP/View/Articles/view.ctp, line 391
View::_evaluate() - CORE/Cake/View/View.php, line 971
View::_render() - CORE/Cake/View/View.php, line 933
View::render() - CORE/Cake/View/View.php, line 473
Controller::render() - CORE/Cake/Controller/Controller.php, line 968
Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200
Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167
[main] - APP/webroot/index.php, line 117
