Finance Minister Swarnim Wagle States Government Will Not Back Down on Electricity VAT
Summary
Finance Minister Swarnim Wagle affirmed that the government will maintain the VAT on electricity consumption above 50 units, while exploring ways to protect consumers from disadvantages starting next fiscal year.
Key Points
- Finance Minister Swarnim Wagle stated the government will not repeal the VAT on electricity.
- The VAT applies to consumers using more than 50 units of electricity and has faced criticism.
- The government aims to protect consumers from negative impacts through policy options starting next fiscal year.
- The budget focuses on shifting to consumption-based taxation and setting a five-year economic policy direction.
