Govt plans to trim taxes on petroleum products

NL Today

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Kathmandu: The government is preparing to cut taxes levied on petroleum products to keep the soaring prices in check.

Speaking at a meeting of House of Representatives on Friday, Minister for Industry, Commerce and Supplies Dilendra Prasad Badu said that a proposal to cut in taxes has been approved by a recent meeting of Council of Ministers.

“The proposal to reduce the prices of petroleum products by reducing taxes to provide relief to customers has been recently passed by a Cabinet meeting. The Finance Ministry is working regarding tax adjustment,” he said.

The government is presently imposing Rs 25.23 customs tax and Rs 10 infrastructure tax at the customs points on a liter of petrol. Likewise, Rs 12.2 customs tax and Rs 10 infrastructure have been levied on a liter of diesel.