Kathmandu- Former Finance Minister and lawmaker of the Communist Party of Nepal (Maoist Centre), Barshaman Pun, has called for the formation of a subcommittee to study the problems faced by gems and jewelry traders.
Speaking at the meeting of the Finance Committee on Monday at Singha Durbar, Pun emphasized the need to control illegal trading of gold and silver, stating that such activities must be brought under the tax system. He further noted that money laundering is unacceptable.
Citing that gold and silver traders in Nepal are currently facing difficulties, Pun said the problems have arisen due to impractical changes in the tax rates on these precious metals. He stressed the need to align Nepal’s tax rates with those of neighboring countries to curb illegal activities.
He also underscored the importance of making tax rates reasonable and practical to support fair trade and discourage smuggling.