Rajbiraj, September 3

Finance Minister Yubraj Khatiwada expressed concern about the recent hype surrounding the new tax policy, calling it nothing but cheap rumours.

Addressing a programme following the inauguration of Tax Payers’ Service Office set up by the Inland Revenue Office in Rajbiraj today, the finance minister made it clear that tax rates have been fixed on the basis of transaction volume.

“All the hype is groundless, peddled through Facebook, that has nothing to do with reality,” he observed, trying to defend the new tax policy on the ground of an extensive study of all the related nitty-gritty conducted before the new tax policy was formulated and unveiled.

Further, commenting on variations on the tax policy at the local level, Khatiwada clarified that the local governments were allowed to make required changes in the tax policy.

“As the local governments are entitled by the statue itself to jurisdiction over the management and mobilisation of financial resources, there nothing wrong in such governments making necessary changes in the tax policy to suit the local scenario,” he explained.

Meanwhile, Saptari Chamber of Commerce of Industry submitted a 10-point concept paper to the minister amidst a programme it had organised to honour him here today. The concept paper covers issues related to taxation and overall development of the district.

Separately, a delegation of commoners from Rajbiraj also submitted a memorandum to the minister citing the difficulty they are facing due to the crunch of Indian currency. The minister also observed the Gajendra Narayan Singh Industrial Estate in Rupani Rural Municipality.