Nepal, July 2 -- Deputy Prime Minister and Minister for Finance Bishnu Prasad Paudel has said that the decision to implement a luxury tax on gold and silver is aimed at removing the country from the grey list of the Financial Action Taskforce (FATF).

During his replies to questions raised in the course of deliberations on the Appropriation Bill 2082 BS in the National Assembly today, Minister Paudel underlined the need for removing Nepal from the FATF grey list and for maintaining transparency in sale and purchase of gold and silver.

"Presently, a two percent luxury tax is levied on gold transactions exceeding Rs one million. However, in the budget for the upcoming fiscal year (2025-26), this threshold has been removed," he said.

Rela...