The finance minister Dr Baburam Bhattarai today said that he is committed to take action against those who have amassed wealth overnight without any definite income source.
Addressing entrepreneurs at an interaction on Voluntary Disclosure of Income Source (VDIS) organised by the Confederation of Nepalese Industries (CNI) here today, he said that the government would not pardon anyone who does not pay tax or disclose their property.
Lashing out especially at politicians and a section of society for havinng become rich those overnight without any proper income channel, he urged entrepreneures not to worry if they have paid tax and have registered their Personal Account Number (PAN). "All professionals who were not in the tax net formerly will have to voluntarily disclose their income sourse and pay 10 per cent." Dr Bhattarai added.
"The government has brought the VDIS scheme to generate more funds in order to kickstart the stalled development of the country," Inland Revenue Department (IRD) director general Kapil dev Ghimire said adding that to achieve double digit growth, the government needs fund. Under the scheme, one has to disclose one's own property on the price based on July 16 and pay 10 per cent tax.
"The last date for VDIS and payment of tax is February 11. From February 12, the government will start taking action against those not abiding by the rule," he said adding that unlike in 2058 BS, this time the government was serious.
Acting revenue secretary Krishna Hari Baskota answered questions raised by entrepreneurs on ancestral propertyand the VDIS scheme.
Baburam Bhattarai on website
KATHMANDU: Rebel-turned-Finance Minister Dr Baburam Bhattarai has gone online. "He launched his own website www.baburambhattarai.com here on Thursday to communicate with the younger generation inside and outside the country," Dr Bhattarai's personal aide Bishwadeep Pandey said. The finance minister is also on a popular social network facebook, where he answers questions -- political and economical -- put to him by readers.
PSU heads' choice on merit basis
KATHMANDU: The finance ministry is appointing the heads of Nepal Stock Exchange (Nepse), Insurance Board (IB), Citizen Investment Trust (CIT) and Employees Provident Fund (EPF) on the basis of merit. On Friday, the applicants are appearing at the interviews for the coveted posts.
Five short-listed candidates will be interviewed for the post of general manager of Nepse and an equal number of candidates for the posts of IB head and CEO of CIT. For the head of EPF, four candidates will appear. "It is a professional approach, the ministry is doing it on the basis of merit," a candidate said adding that politicisation of government entities would not be good for the country's economy.
Finance secretary Rameshwor Prasad Khanal - during the monthly review meeting today at the ministry - said that the appointment of heads of government's undertakings under all ministries should be on a professional and merit basis, like under the finance ministry.
The finance ministry today reviewed its progress - specially under Priority one (P1) and Priority Two (P2) - of development projects and implementation of the budget for the fiscal year 2008-09. According to the ministry, it reviewed overall progress in development projects and the implementation of programmes mentioned in the budget. The department of different development projects apprised the finance minister of progress in the projects and various problems they face.
Speaking at the review meet, Finance Minister Dr Baburam Bhattarai urged the department heads to prepare monthly progress reports and list the achievements in comparison to the same month the last fiscal year.
He also asked them to work whole-heartedly for the fulfillment of people's dream of prosperity. "To protect the national economy from the global financial crisis and start operation of Hetauda Textiles as soon as possible are some of the priorities," he said adding that farmers should get hassle-free loan-waiver facility according to the budget. "Action against defaulters should also go hand-in-hand," he said.
On the occasion, acting governor of Nepal Rastra Bank (NRB) Krishna Bahadur Manandhar spoke about the action being taken against the defaulters. Revenue secretary Krishna Hari Baskota called for more effective working procedures for good results.
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