Gold and silver entrepreneurs draw PM Oli's attention over luxury tax

Kathmandu, June 17: Leaders of different organisations related to gold and silver enterprises have drawn attention of Prime Minister KP Sharma Oli regarding the provision of two per cent luxury tax on gold and silver made in the budget of the coming fiscal year.     

During the meeting today at the Office of the Prime Minister and Council of Ministers, a team comprising President of Federation of Nepal Gold Silver Gem and Jewellery Associations, Kisan Sunar, President of Federation of Nepal Gold and Silver Dealers' Association, Arjun Rasaily, and President of Nepal Gem and Jewellery Association, Suman Man Tamrakar, among others urged the Prime Minister to rethink on the provision as their business would be collapsed if the luxury tax on gold and silver is implemented.     

The organisations shared that they would be compelled to launch an agitation if the provision is implemented as they could not compete in this business as the tax and customs rate is higher than neighbouring country, India.     

Assuring that he would hold talks with the concerned ministry to resolve problems through dialogue and fulfill genuine demands, Prime Minister Oli urged the delegation not to go for agitation.(RSS)