Review Nepal News

Govt. To Backtrack From Recent Decision

www.reviewnepal.com
  Kathmandu, Nepal      July 23 2019


Kathmandu, Nepal, July 24, 2019:  It is likely that the government would backtrack from its decision of vehicle consignment tracking system (VCTS), Values Added Tax (VAT) in the daily commodities and transportation sector, mandatory Permanent Account Number (PAN) for all salaried workers and every trading through PAN bill. 

The ongoing widespread criticism and protests from the business community would compel the government to backtrack from the decision. The government had made unilateral decision to bring into implementation the provisions sans consultations with the concerned stakeholders.   

Though the government has made no decision to backtrack from the decision, a source close to the Prime Minister KP Sharma Oli claims that some impractical provisions would be amended soon.   

Making controversial decisions and correcting these after the protests has become common phenomenon for the incumbent government. As the government used to take impractical and ill-intended decisions sans consulting with the concerned stake holders, serious questions are raised from the different sectors over the motive and intention of the incumbent Nepal Communist Party (NCP) led government. 
 
It is likely that the five-member taskforce formed on the name of studying  the concerns raised by the private sectors’ over the implementation of vehicle consignment VCTS, VAT in the transportation sector, and mandatory PAN for all salaried workers and among others would recommend the government for fixing the threshold to implement the provisions.

The taskforce was formed comprising two representatives each from the Ministry of Finance and Federation of Nepalese Chambers of Commerce and Industry (FNCCI) and its former president Pashupati Murarka.