Finance Minister Dr. Swarnim Wagle Clarifies Budgetary Errors
Summary
Finance Minister Dr. Swarnim Wagle clarified that minor tax rate errors in the budget were honestly corrected, defended his integrity against allegations, and outlined government policies on customs duty, income tax, and fees for education and health sectors.
Key Points
- Finance Minister Dr. Swarnim Wagle clarified minor technical errors in tax rates during budget preparation as honest corrections.
- Customs duty on special carriers was reduced from 30% to 15%, with plastic suitcases initially affected but later restored to original rates.
- The upper limit of income tax was reduced from 39% to 29% to expand the tax base and encourage voluntary taxpayer compliance.
- A 3% fee on private school spending will support community schools in remote areas under a progressive taxation principle.
