Finance Minister Paudel said the gold tax targets illegal trade as Nepal aims to exit the FATF Grey List. Both finance-related bills were passed without changes.
nvn news
Fri Jul 04 2025
Finance Minister Bishnu Prasad Paudel has said that the newly introduced luxury tax on gold ornaments is aimed at making gold transactions more transparent and curbing illegal trade. The tax is part of broader reforms to help Nepal exit the Financial Action Task Force (FATF)’s Grey List, where it remains due to weaknesses in anti-money laundering and counter-terrorism financing measures.
“These provisions will help bring gold trade into the formal system and reduce illegal activities,” Minister Paudel told the National Assembly during clause-wise discussions on the Finance Bill 2082 BS.
The National Assembly on Wednesday passed both the Finance Bill and the National Debt Collection Bill 2082 BS, which had been sent by the House of Representatives. The bills were approved without amendment and returned to the lower house.
Minister Paudel also responded to queries about the National Debt Collection Bill, stating that the government’s Rs 1.964 trillion budget for the upcoming fiscal year is strong in terms of revenue, spending, foreign aid, and borrowing. He assured that internal borrowing would focus on boosting production and capital investment.
Amendments proposed by lawmakers on both bills were rejected by majority vote. The next National Assembly meeting is scheduled for Tuesday, July 9.
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