By amending Section 11 of the Income Tax Act, 2058, in accordance with the financial bill, 2078, the Finance Ministry made it clear that the government would not inquire about the source of income from investments made in infrastructure development and industries of national importance until the end of the year 2080 BS.
The Ministry issued a press release expressing grave worry over the public comments on the Ministry’s intention for this new scheme, which were made public.
The Ministry made it clear that no criminal acts will be exempted from prosecution on the grounds of financial sources.
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The government is fully dedicated to executing the national and international obligations it has made to prevent financial investment with money generated by illegal activities, corruption, and money laundering, as well as money laundering itself.
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