KATHMANDU, DEC 14 - Experts today pointed out complex language structure as one major loophole of the Income Tax Act, 2001. Participants in a day-long workshop on "Accounting Under the Income Tax Act, 2001" organised by Oxford Management Support Academics, laid emphasis on immediately simplifying text of the Act.
Speaking at the programme, Dr Chandra Mani Adhikari, s senior tax expert, urged the government to expand the tax net, among others, to increase the revenue.
"The state cannot just ignore the revenue part. So, the government should be serious to improve tax to make it practical and timely," he added.
N K Pradhan, a marketing expert, on the occasion, underlined the need to carry out more awareness generating programmes in order to bring more and more potential taxpayers within the tax net.
"The government should ask for support from private sector for the purpose," he
added.
Around 50 participants attended the programme held basically to discuss on practical problems of the new Income Tax Act.

Posted on: 2003-12-15 04:11

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