Govt set to implement digital payment system for tax collection

government logoKathmandu / Dec 27: The government– in order to ease tax collection process and cut back on costs incurred– has decided to implement digital payment systems to collect tax-revenue, major source of government income, from April, 2018.

According to Joint Secretary at Finance Ministry, Shova Kanta Poudel, steps are being taken to fully implement the system in Inland Revenue Department.

The system after coming into operation is said to collect Value Added Tax (VAT), income tax, excise duty and other major taxes through digital gateways.

“Nepal Rastra bank is currently working on required steps to be taken to implement unified payment system including, mobile payment, real time payment, digital payment and next generation payment.”

The system is believed to ensure timely collection of revenue in National Treasury and reduce the knowledge divide between tax-officers and tax payers.

In its first phase, the system will be implemented in 49 regional offices of IRD, 22 custom offices, 26 Taxpayer Service Offices (13 inside Kathmandu Valley and 13 Outside the Valley) and other major taxpayer offices.

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