Finance Ministry statement following tax increase- “Tax is not expensive, it will not affect much”

KATHMANDU: The Gandaki Finance Ministry has clarified that the tax rate is not high. The Finance Ministry attempted to avoid the tax by issuing a statement on Saturday, claiming that it was determined based on the recommendations of the State Revenue Consultative Committee.

“This Ministry has paid close attention to the flow of information regarding real estate registration and other service fees through various media,” the statement said.

“The state government has decided to fix the tax rates and the range has been determined based on the recommendations of the committee formed to determine the rate and range of real estate registration fees.”

According to the ministry, there has been an increase in the transfer of land over three generations. “It is not justified to charge the same fee as for the transfer of rights to the right holder within three generations, and only a little more fee has been established,” it is said, “from outside of three generations,” it is said, “as the transfer of property rights is rarely done.”