Lawmakers Stress Need to Control Revenue Leakage in Finance Bill Discussion

Lawmakers emphasized the importance of controlling revenue leakage during the discussion on the Finance Bill, 2081 in the House of Representatives (HoR) meeting held on Tuesday. They suggested that systematic revenue collection processes are essential for strengthening the country’s treasury.

Jeevan Pariyar pointed out that the Finance Bill focuses on altering tax rates instead of expanding the tax base and urged the need to address revenue leakage. Uday Shumsher JB Rana called for a halt to share transactions in hydropower projects to prevent revenue evasion. Prem Suwal advocated for implementing a progressive tax system in Nepal.

Prabhu Sah highlighted that no law should infringe on the constitutional right to property, while Manish Jha recommended setting realistic revenue targets considering the country's current economic conditions. Badri Prasad Pandey underscored the need for political stability and policy continuity to achieve economic prosperity.

The discussion on the Finance Bill began after the HoR passed the Appropriation Bill, 2081 earlier the same day.