Finance Minister Pun Suggests Potential Tax Rate Adjustments in Upcoming Budget

Finance Minister Barshaman Pun has articulated plans for a comprehensive assessment of tax rates in preparation for the upcoming fiscal year's budget, underscoring the government's commitment to prudent fiscal policy. Speaking at a gathering with journalists hosted at the Ministry of Finance, Minister Pun emphasized the imperative of clarity and transparency in any potential revisions to tax rates. He assured that any adjustments would be thoroughly justified, with a clear delineation of the rationale behind such decisions, thereby preemptively addressing concerns regarding the government's intentions.

Minister Pun underscored the importance of public engagement in the budgetary process, emphasizing the need for inclusive participation in both budget formulation and the design of the tax framework. Additionally, he advocated for a critical evaluation of the efficacy and necessity of tax exemptions granted to various sectors, highlighting the government's commitment to rationalizing fiscal incentives.

Moreover, Minister Pun initiated a discourse on the applicability of a multi-rate structure for value-added tax (VAT), signaling a proactive approach towards refining tax policies to align with economic exigencies. Furthermore, he announced the ministry's strategic intervention to inject liquidity into the market, aiming to invigorate economic activity amid recent sluggishness attributed to waning demand and consumption.