Nepali Congress (NC) General Secretary Gagan Thapa has advised the government to form a revenue board to regulate changes in tax rates.
Speaking during the discussion on the budget for the next fiscal year in the House of Representatives (HoR) on Sunday, Thapa has stated that forming such board to regulate changes in tax rate, and advise the government for budget preparation would also bring down disputes about changes in tax rates in every annual budget.
He has acknowledged that tax rates can be changed but stressed that the changes should be justified. “All the issues should be brought to the House including why tax rates were increased or slashed, what the burden of tax discount will be and why the discount was provided, what impact that will have, and how that was studied,” he has elaborated.
He has added that the board should be formed in a way that all those issues could be studied. “We can gradually take steps toward performance budgeting if we can do this much. We cannot do it overnight but the issue of reforming budget system is very important.”