#news #business #protest
In Kathmandu, the gold and silver business owners have been showing consistency in their protest programs. The government’s decision to impose a 2% luxury tax on gold and silver jewelry and a 13% VAT on precious stones has led to a movement among the gold and silver business owners.
Organized protests have been ongoing under the leadership of the Gold and Silver Business Association and Federation. The business owners have been expressing their dissent towards the government’s proposal to increase the prices of gold, silver, diamonds, and other precious stones through taxes and levies in the budget.
The protests have escalated from street-centered demonstrations to displaying black banners in areas like New Road and Basantapur in Kathmandu. On Tuesday, the gold and silver business owners from Bhaktapur marched to New Road to voice their concerns.
Ramesh Khatri, a representative of Kansai Nepal News, stated, “The decision to impose taxes unfairly on traditional gold and silver businesses is unjust. Levying a tax on gold from birth to death is truly discriminatory.”
Additionally, Bijen Shakya, the acting president of the Bhaktapur Gold and Silver Business Association, highlighted the unfairness of categorizing gold as a luxury item and imposing a 2/2% tax on it in three tiers, along with a 13% VAT on gemstones. He emphasized the need to remove this imposition to ensure fair treatment.
In response to the government’s tax policies, the business owners have taken to the streets, staging silent protests in New Road. They demand that the government revoke the decision to categorize gold as a luxury item and reconsider the tax policies.
In conclusion, the ongoing protests reflect the discontent among gold and silver business owners regarding the government’s taxation policies. The industry stakeholders are urging for a reevaluation of the tax structure to ensure a fair and sustainable environment for their businesses.
Opinion from Ramesh Khatri, representative of Kansai Nepal News: Ramesh Khatri believes that the government should reconsider its taxation policies on gold and silver businesses to prevent unjust treatment and ensure a conducive business environment.
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Author: MAYA | HARUTO
Posted at: June 17, 2025 7:00 pm
