Finance Minister Paudel directs to meet revenue target

KATHMANDU, NOVEMBER 16: Deputy Prime Minister and Finance Minister Bishnu Prasad Paudel has urged government officials to work efficiently to meet tax collection targets. Speaking at a program celebrating 'National Tax Day, 2081,' Minister Paudel emphasized that the Inland Revenue Department and its subordinate offices must not lag behind in performance.

Expressing dissatisfaction, Minister Paudel noted that the Department's performance has weakened compared to the previous fiscal year. He urged officials to be more committed to achieving revenue goals, stressing, “Be more serious about meeting the revenue target.”

He highlighted the need for modernizing tax administration, reducing operational costs, developing a technologically skilled workforce, and expanding the tax net. The Minister also emphasized the importance of finding ways to broaden the reach of inland revenue collection.

Minister Paudel reminded everyone that paying taxes is a civic duty, adding, “There should be a harmonious relationship between taxpayers and the tax administration. Tax authorities must not trouble taxpayers.”

Finance Secretary Dr. Ram Prasad Ghimire, however, pointed out that making the national economy vibrant and fostering a favorable investment climate would naturally expand the tax base. “Beyond tax collection, we must energize economic activities,” he remarked.

Despite economic challenges, Dr. Ghimire stated that the situation is not dire. “It’s inaccurate to say our economy is in a bad state. While growth is slow, there’s no need for panic,” he asserted. Although liquidity has normalized, investment and economic activity have yet to gain momentum. He emphasized that government efforts alone are insufficient and mentioned ongoing discussions with the private sector to stimulate economic growth.

Revenue Secretary Dinesh Kumar Ghimire added that the revenue administration is addressing issues faced by the private sector. He mentioned that reforms are underway, focusing on policy and structural improvements.

Entrepreneur Raj Bahadur Saha, recognized as the largest taxpayer in the income category for the previous fiscal year, commented that political instability remains a significant barrier to creating an investment-friendly environment.