Minister for Finance Dr Baburam Bhattarai on Thursday emphatically said that the government will in no way extend the deadline for the Voluntary Declaration of Income Scheme (VDIS).

The VDIS, which was announced by the government in its budget for this fiscal year, is due to expire on February 12.

While talking with journalists before leaving for an official visit to Japan, Dr Bhattarai said, “The deadline set by the government regarding the VDIS to show income scheme is enough. So there is no need to further extend it.”

He also expressed confidence that the program will achieve its set target.

Earlier, representatives of the Federation of Nepalese Chambers of Commerce and Industry (FNCCI), Confederation of Nepalese Industries (CNI) and Nepal Chamber of Commerce (NCC) urged the finance minister to withdraw the VDIS.

The private sector is reluctant to pay tax under VDIS saying that the government has not been serious in addressing the problems of the sector and the scheme could discourage investment. nepalnews.com nd Feb 5 09