Finance Minister Dr Yubaraj Khatiwada blamed the auto importers of tax evasion.
Inaugurating the 14th edition of NADA Auto Show 2019 here today, he accused them of tax evasion while importing hybrid vehicles. Urging to run business honestly, he reminded that the government has a policy of tax exemption only for the electric vehicles. “The hybrid vehicles that run 90 per cent from fuel and only 10 per cent from electric energy are not exempted from taxation,” he said, reiterating that the government has given tax incentives for the import of hybrid vehicles to promote hybrid vehicles but automobile dealers, in turn, are importing battery-operated vehicles which run on diesel or petrol.
He also said that the government is ready to protect and promote those entrepreneurs wishing to set up electric vehicle plants. “Instead of depending on sales of imported vehicles, the government encourages automobile entrepreneurs to build assembly plants in the country itself and is always open to discuss this topic,” he added.
“As the nation’s economy continues to grow, people’s paying capacity is also increasing which leads to increase in demand of automobiles,” he said, adding that the government is liable to develop road infrastructure and safety, but until and unless the Melamchi Water Supply Project is completed, the government will not be able to construct black-topped roads.
Speaking on the occasion, NADA Automobiles Association chair Shambhu Prasad Dahal, demanded government to focus on road infrastructure development. Dahal, also asked the government to exempt excise duty on vehicle accessories. “Nepal’s automobile industry has been contributing a lot of revenue to the economy and it’s now time for the government to encourage automobile industrialisation in the country.”
The 14th edition of NADA Auto Show that will last until September 2 is organised by NADA Automobiles Association of Nepal and managed by Global Exposition and Management Services. The most anticipated automobile extravaganza is also seeing participation from 23 four-wheelers, 19 two-wheelers, 12 lubricant, nine tyre, five battery, 14 garage equipment and auto components brands and 13 financial institutions.
The venue also has a Traffic Information Desk set up by the Metropolitan Traffic Police Division where visitors can learn about road rules and safety.
Inaugurating the 14th edition of NADA Auto Show 2019 here today, he accused them of tax evasion while importing hybrid vehicles. Urging to run business honestly, he reminded that the government has a policy of tax exemption only for the electric vehicles. “The hybrid vehicles that run 90 per cent from fuel and only 10 per cent from electric energy are not exempted from taxation,” he said, reiterating that the government has given tax incentives for the import of hybrid vehicles to promote hybrid vehicles but automobile dealers, in turn, are importing battery-operated vehicles which run on diesel or petrol.
He also said that the government is ready to protect and promote those entrepreneurs wishing to set up electric vehicle plants. “Instead of depending on sales of imported vehicles, the government encourages automobile entrepreneurs to build assembly plants in the country itself and is always open to discuss this topic,” he added.
“As the nation’s economy continues to grow, people’s paying capacity is also increasing which leads to increase in demand of automobiles,” he said, adding that the government is liable to develop road infrastructure and safety, but until and unless the Melamchi Water Supply Project is completed, the government will not be able to construct black-topped roads.
Speaking on the occasion, NADA Automobiles Association chair Shambhu Prasad Dahal, demanded government to focus on road infrastructure development. Dahal, also asked the government to exempt excise duty on vehicle accessories. “Nepal’s automobile industry has been contributing a lot of revenue to the economy and it’s now time for the government to encourage automobile industrialisation in the country.”
The 14th edition of NADA Auto Show that will last until September 2 is organised by NADA Automobiles Association of Nepal and managed by Global Exposition and Management Services. The most anticipated automobile extravaganza is also seeing participation from 23 four-wheelers, 19 two-wheelers, 12 lubricant, nine tyre, five battery, 14 garage equipment and auto components brands and 13 financial institutions.
The venue also has a Traffic Information Desk set up by the Metropolitan Traffic Police Division where visitors can learn about road rules and safety.
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