KATHMANDU, March 19: Minister for Finance Barshaman Pun tabled a proposal for discussion on the 'Customs Bill 2080 BS' in the Parliament on Tuesday.
The government registered the bill in the House of Representatives (HoR) to facilitate an easier and secured international trade by making the customs process systematic, transparent and accountable.
Bill to amend Bank and Financial Institutions Act, 2073 propose...
This bill has been registered in the parliament with the aim of increasing the effectiveness in the collection of customs duties.
Similarly, it is said that the bill has been introduced to arrange the provisions of the International Convention on Simplification and Harmonization 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 Organization (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 the parliament for the implementation of the provisions of the convention.
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