Kathmandu: Finance Minister Dr Swarnim Wagle has said the tax collected from the education and health sectors will benefit citizens from marginalised communities.
In his response to concerns raised during the deliberations on the ‘Finance Bill- 2083 BS’ in today’s meeting of the House of Representatives (HoR), the Finance Minister said a three- percent equity tax introduced for private schools is intended to help ensure the right to education for children from marginalised communities and achieve overall improvement of public education.
According to him, the budget has provided an income tax exemption on annual earnings up to Rs one million, aiming to increase capital expenditures and spending capacity so as to see transformation in the economic sector.
He stated that the government was committed to bringing everyone into the tax net and efficiently implementing the budgetary provisions.
Defending the government’s decision to implement the provision of a three- percent charge on foreign currency exchange for students going abroad for higher studies, the Finance Minister pledged to create a more investment- and enterprise-friendly environment in the country.
Seven lawmakers had registered amendment proposals to the Bill, while Yashuda Kumari Baral of CPN (UML), Ashish Gajurel, and Arbind Shah of Rastriya Swatantra Party took part in the deliberations. They urged the government not to increase the tax burden on the education and health sectors, and called for higher capital expenditure.
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