Nepal ‘not planning multiple VAT rates’
Tuesday June 30, 2009
The Nepalese government is not planning to introduce a number of different VAT rates, it has been confirmed.
Surendra Pandey, the country’s finance minister has revealed that despite calls from the private sector for such a move, it is unlikely to come into force in the near future due to administrative issues.
According to MyRepublica.com, it is thought that the introduction of a range of rates – which was approved by the previous government – would allow the ministers to gain extra revenue for public spending.
Pandey announced at a function yesterday (June 29th) however: "It cannot be implemented immediately as the private sector has demanded."
One country which recently confirmed that it was not making changes to its VAT rate was Germany.
Chancellor Angela Merkel told Bild am Sonntag that no plans for such a move are in place and any talk of the issue could impact on the country’s overall economic activity.