MoF starts homework for revenue board
KATHMANDU, Dec 30 - After the task force formed to study the establishment of a central revenue board submitted its report recommending forming a semi-autonomous board, the Finance Ministry has started work to implement the suggestion.
The Finance Ministry has formed a committee under the coordination of joint secretary Bhesh Raj Sharma to see how the suggestions could be implemented. The committee will also refine the draft of the act submitted by the task force with regard to the revenue board. The task force headed by economist Madan Kumar Dahal had submitted the draft act along with its report.
"Although successive task forces formed over the last one and half decades too had suggested forming a revenue board, the governments over the period failed to implement those recommendations. Now, the government is committed to implementing the suggestions," said Krishna Hari Baskota, revenue secretary at the ministry.
"The government wants to implement the suggestion from this year." The government has also introduced the policy of forming a central revenue board in the budget for the current fiscal year.
If the recommendations are implemented as they are, the Department of Customs (DoC) and the Inland Revenue Depart-ment (IRD) will remain under the board.
"As the board will be a government agency under the Finance Ministry and the existing departments under the ministry will come under the board, the board will carry out the task of financial management as per the existing acts and rules," the report states.
The task force has, however, suggested that the existing Revenue Investigation Board (IRD) should be put under the ministry itself which would work to control financial crimes. "However, there will be an investigation bureau under the board to control revenue leakage," said Baskota.
The task force suggests that the revenue secretary will head the board and the post of revenue secretary will automatically be scrapped. But, there will be an operation council headed by the finance minister to guide the board in which all stakeholders including the private sector and experts will be included.
However, the ministry cannot intervene in the routine work of the board although it will be under the ministry. "There will be professional relations between the ministry and the board," the report states. The board will take the necessary decision regarding the revenue policy of the country.
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