Government reduces customs duty structure from 11 to 7 tiers

Kathmandu: The government has restructured the customs duty system and reduced it from the current 11 tiers to 7 tiers.

Finance Minister Swarnim Wagle announced the arrangement through the budget for the upcoming fiscal year 2083/84.

According to him, customs duty on industrial raw materials has also been reduced by one tier. In addition, customs duty has been reduced on a total of 273 items, while excise duty on 360 items has been abolished.