Govt revises tax on infrastructure development

February 27, 2020 | Investopaper

The government has made a slight revision in the tax imposed on infrastructure development.

The tax on infrastructure development was first introduced by then finance minister Bishnu Poudel in 2073/74. As the national pride project, this tax was implemented on the Budhigandaki Hydropower Project.

A total of Rs 41 billion has been raised so far with the tax of Rs 5 per liter in petroleum products at the customs point. The amount has been used for compensation to the land acquired for the project.

With the revision, the government has increased it to Rs 10 per liter petroleum product at the customs point. The decision to this was made by the Cabinet decision three days back.

Sharing information about the government decisions at a press meet today, Minister Khatiwada said the tax now onward would be imposed on aviation fuel as well.

According to him, Nepal Rastra Bank would get a new governor in the third week of March.

In response to a question of whether he would be continued as National Assembly member, Dr. Khatiwada requested everyone to have patience till March 4, the day to conduct the swearing-in ceremony of new members of the National Assembly.


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