Tax on trade of books, not on knowledge

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Kathmandu: Finance Minister Yubaraj Khatiwada has said that the government has imposed tax on the trade of books and not on knowledge. Speaking at the regular press meet held at the Ministry of Communications and Information Technology today, Khatiwada, who also holds the CIT portfolio, said the trade of books is also a trade, so tax is applicable in the income made from the sale of books.

The intention is also to protect domestic printing industries, as it would be difficult for them to compete with books printed outside and imported without any duties. “If one can charge 30 to 40 per cent commission in the sale of books, then why not pay 10 per cent tax for the same,” he said.