Business

Electronic medium in place for submission of custom tax



Kathmandu, Jan 26 (RSS) : Finance Minister Janardan Sharma has launched electronic payment system for the submission of custom tax. He launched the service amidst a programme organized on the occasion of the 70th International Custom Day.

With the innovative system in place, the traders can submit the custom duty via e-payment method. With the help of the system, one can request for the customs check pass, which would facilitate on collection of custom duty, Minister Sharma hoped. He also termed it a beginning of ‘new age’.

“The new application not only facilitates traders and employees but also saves their time,” he said, adding that it further helps to improve work progress. For the reform on custom, a vehicle scanner would be introduced. The vehicle scanner is also linked to security, according to him.

The Finance Minister also pointed out the need of quarantine and laboratory to meet the international standard. The government is committed to bringing reforms with this, he vowed.

The suggestions from the private sectors would help government improve the system.

He admitted that international price hike created stress on foreign currency reserve in Nepal. However, Nepal’s economy has not been pushed to the tailspin. He also expressed dissatisfaction over the publicity on economy that panicked general people and private sector.

On the occasion, Finance Secretary Madhu Kumar Marasini viewed only technology was not enough, but skilled human resources and continuous training were necessary. He said the new system would facilitate the private sector which contributes 70 percent to the national economy.

The International Custom Day is observed on January 26 every year.