Kathmandu. Finance Minister Dr Swarnim Wagle has asserted that it was the duty of the government to give high social respect to the culture of paying tax honestly. <\/p>\n
Minister Wagle said this during a meeting with 20 big taxpayers at the Ministry of Finance today. “The government respects taxpayers not only as a source of revenue, but also as partners in nation building. \u2019<\/p>\n
On the occasion, Finance Minister Wagle lauded the contribution made by taxpayers in the development of Nepal’s economy. “You are not only the representatives of successful businessmen or companies, but also the biggest taxpayers, largest employers, largest investors and leading partners in the nation-building,” he said. It is a new and deepening trust, collaboration and commitment between the government and the private sector playing a leading role in nation building. \u2019<\/p>\n
Stating that he got the opportunity to hold long discussions with industrialists and businessmen, chief executive officers of commercial banks and Nepal Rastra Bank (NRB) leadership over the past few days, Wagle said, “A common conclusion has emerged from all the discussions: Nepal’s economic transformation should not be carried out by a single ministry, a single policy or an institution, but it should be led together by the government and the private sector.” \u2019<\/p>\n
Wagle said the government was looking at the private sector as a partner rather than with suspicion. “We believe that success of the private sector is the basis of Nepal’s economic success,” he said, adding, “Therefore, the government’s priority now is not just to increase tax collection. Accelerate the cycle of production, investment, profit and reinvestment. Because when the industry makes a profit, that profit is reinvested. Reinvestment increases production. Production creates jobs. Employment increases income. Income expands the market. Ultimately, it will also increase the revenue of the state. Therefore, the relationship between the government and the private sector is not a zero-sum relationship; The success of both is linked to each other’s success. \u2019<\/p>\n
Finance Minister Wagle said that the main responsibility of the government is to protect the legitimate investment, the wealth created and the profit earned in Nepal. “Entrepreneurs should have confidence that their assets are protected, regulations are stable, the tax system is predictable, and the state is a partner. Without building that trust, big investment will not come,” he said. Economic transformation is not possible without building that trust. \u2019<\/p>\n
Finance Minister Wagle also urged for greater investment in Nepal. “Expand the existing industries. Log in to a new product. Introduce new technology. Create new jobs,” he said.<\/p>\n","protected":false},"excerpt":{"rendered":"
Kathmandu. Finance Minister Dr Swarnim Wagle has asserted that it was the duty of the government to give high social respect to the culture of paying tax honestly. Minister Wagle said this during a meeting with 20 big taxpayers at the Ministry of Finance today. “The government respects taxpayers not only as a source of […]<\/p>\n","protected":false},"author":16,"featured_media":310376,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[45031,45060,45159],"tags":[],"class_list":["post-310378","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-banner-news-en","category-corporate-en","category-news-en"],"acf":[],"_links":{"self":[{"href":"https:\/\/english.insurancekhabar.com\/ikbrapi\/wp\/v2\/posts\/310378","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/english.insurancekhabar.com\/ikbrapi\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/english.insurancekhabar.com\/ikbrapi\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/english.insurancekhabar.com\/ikbrapi\/wp\/v2\/users\/16"}],"replies":[{"embeddable":true,"href":"https:\/\/english.insurancekhabar.com\/ikbrapi\/wp\/v2\/comments?post=310378"}],"version-history":[{"count":1,"href":"https:\/\/english.insurancekhabar.com\/ikbrapi\/wp\/v2\/posts\/310378\/revisions"}],"predecessor-version":[{"id":310379,"href":"https:\/\/english.insurancekhabar.com\/ikbrapi\/wp\/v2\/posts\/310378\/revisions\/310379"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/english.insurancekhabar.com\/ikbrapi\/wp\/v2\/media\/310376"}],"wp:attachment":[{"href":"https:\/\/english.insurancekhabar.com\/ikbrapi\/wp\/v2\/media?parent=310378"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/english.insurancekhabar.com\/ikbrapi\/wp\/v2\/categories?post=310378"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/english.insurancekhabar.com\/ikbrapi\/wp\/v2\/tags?post=310378"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}