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Revoke Tax Redemption Commission Act
Revoke Tax Redemption Commission Act
KTM Metro Reporter
July 18, 2017
Kathmandu: The Parliamentary Finance Committee has instructed the government to annul the Tax Redemption Commission Act on July 17, 2017, as the law has given so much of discretionary power to members of the commission they could exempt any sorts of tax but no lawsuits against such tax exemption would be filed at any courts.
Commission on Investigation into Abuse of Authority (CIAA) has a lot of complaints about the undue tax exemption the Tax Redemption Commission has given, and it also has the Auditor General’s report that has stated the huge irregularities in the tax exemption the Tax Redemption Commission has done.
The Tax Redemption Commission Act has been in effect since the Panchayat rule in Nepal. Anybody could imagine the Panchas that had formulated and enacted such an Act must have deliberately done so to make money, and it was made so that nobody could make any lawsuits at any courts.
During the time of Finance Minister Dr Ram Sharan Mahat, the Finance Ministry had set up a Tax Redemption Commission ostensibly for redeeming the tax revenue but it has been for making huge money for the three members of the commission making a huge revenue loss to the nation. Probably, some big shots must be behind this huge tax revenue loss.
