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Wednesday, October 20, 2021
    Nepal Breaking NewsEconomy | FinanceAccording to the Finance Ministry, illegal income would not be permitted for...

    According to the Finance Ministry, illegal income would not be permitted for investment.

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    Money laundering, terrorist activities, corruption, and other criminal actions would not be tolerated by the government, which would prosecute anyone responsible.

    By amending Section 1 of the Income Tax Act, 2058, in accordance with the bill, 2078, the Finance Ministry made it clear that the government would not inquire about the source of income from made in infrastructure development and industries of national importance until the end of the year 2080 BS.

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    The Ministry issued a press expressing grave worry over the public comments on the MinistryR7;s intention for this new scheme, which were made public.

    The Ministry made it clear that no criminal acts be exempted from prosecution on the grounds of sources.

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    According to Mahesh Acharya, a spokesperson for the Ministry of Finance, income earned illegally not be for investment.

    The government is fully dedicated to executing the national and international obligations it has made to prevent investment with money generated by illegal activities, corruption, and money laundering, as well as money laundering itself.

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