Illegal income won’t be allowed for investment: Finance Ministry

Kathmandu

The government would not let off-the-hook money laundering, terrorist activities, corruption, and other crimes. The Finance Ministry made it clear that the government would not inquire about the income source of the investments made in the infrastructure development and industries of national importance till the end of 2080BS by adding Section 11 in the Income Tax Act, 2058 in line with the financial bill, 2078.
The Ministry stated a press release, showing severe concern over the comments public on Ministry’s plan on this new scheme. No illegal activities would be let off the hook in the name of income sources, the Ministry underscored. According to Ministry Spokesperson Mahesh Acharya, the income made illegally would not be allowed for investment. The government is fully committed to implementing the national and international commitments it made to prevent the financial investment with the money generated criminal activities, corruption, and laundering.