Finance Minister tables Customs Bill 2080BS in Parliament

KATHMANDU: Minister for Finance Barshman Pun tabled a proposal in Parliament seeking consideration on the 'Customs Bill 2080 BS' for discussions. Finance Minister Pun submitted the proposal in today's meeting of the House of Representatives (HoR).

According to the Parliament Secretariat, the bill was discussed in the meeting today itself. The government registered the bill in Parliament to facilitate easier and more secure international trade by making the customs process systematic, transparent, and accountable.

This bill has been registered in Parliament to increase the efficiency and effectiveness in the collection of customs duties and contribute to the economic development of the country.

Similarly, it is said that the bill has been introduced to arrange the provisions of the International Convention on Simplification and Harmonisation of Customs Procedures (Revised Kyoto Convention) in the law. Nepal is a state party to the Revised Kyoto Convention and the Trade Facilitation Agreement of the World Trade Organisation (WTO).

According to the provisions of the Kyoto Convention, the member states have to implement the general provisions within three years of membership and the transitional standards within five years. The draft of this law has been prepared and registered in Parliament for the implementation of the provisions of the convention, it is said.