April 1: A High-level Recommendation Committee on Tax System Reforms has recommended the government to reform tax-related laws of the country as well as the revenue structure.

Submitting its report to Finance Minister Barsha Man Pun on Sunday, the committee headed by Former Finance Secretary Bidhyadhar Mallik stressed on reforms in overall tax administration. The government had made provision for constituting this committee in the budget statement for the fiscal year 2024/25.

Accordingly, a meeting of the Council of Ministers on September 15, 2023 constituted the committee. Former secretary Laxman Aryal, professor at the Tribhuvan University, Central Department of Economics Dr Ram Prasad Gyawali and former administrator and customs expert Ram Prasad Dahal were the members of the committee.

The committee prepared the 258-page report with 140 annexes in six months. Receiving the report, Finance Minister Pun expressed the government's commitment to implementing the suggestions pointed out by the report. He said the report has come at an appropriate time when the government has been struggling to meet the general expenses from the state coffers. He stressed the need to attract the domestic and foreign investors to bring in maximum investment into the country.