Kathmandu. Chairman of Nepal Chamber of Commerce Kamlesh Kumar Agrawal has said that the budget for the coming fiscal year will revive the sluggish economy for long. Speaking at an interaction program organized by the Nepal Economic Journalists Association (NAFIZ) here today, Chairman Agrawal said that the budget has made significant progress in the area of tax reform. 

According to him, the budget has addressed the tax reforms that have been stalled for a long time.

Chairman Agrawal has termed the government’s move towards the implementation ofthe VAT as a bold decision. He, however, expressed dissatisfaction over the imposition of 5 percent VAT on electricity tariffs.

Electricity and Ride VAT has been introduced by imposing VAT of 5% on multi-rate VAT on {{} and shares. “Nepal is a country with abundant potential for water resources,” he said, adding, “Weneed to increase its production.” It is necessary to form a high-level committee to study the relevance of and in VAT and submit corrections. ’ 

He also expressed the belief that the confusion and confusion about the capital gains tax would automatically be removed if the necessary legal amendments are made.