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Started 1 week ago · Updated 1 week ago

Government Granted Rs 85.23 Billion in Customs Duty Exemptions, Auditor General Reports

Photo · english.ratopati.com

The government provided customs duty exemptions totaling Rs 85.23 billion in the fiscal year 2081/82, an increase from the previous year, according to the 63rd annual report by the Office of the Auditor General. The report highlights concerns regarding record-keeping for these exemptions, particularly those related to internal revenue and specific facilities like SAFTA imports and project-based waivers.

  • Customs duty exemptions increased by over Rs 5.35 billion compared to the fiscal year 2080/81, which saw Rs 79.87 billion in waivers.
  • The Ministry of Finance and the Inland Revenue Department reportedly failed to maintain proper records for exemptions on internal revenue granted through the Economic Act.
  • Imports under the SAFTA facility received Rs 5.71 billion in customs duty exemptions, while Rs 6.12 billion was waived for various projects, construction companies, and government agencies.
  • The Auditor General's report noted that tax exemptions in public construction projects may disproportionately benefit contractors over development projects due to procurement and contract mechanisms.

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