Gold and Silver Traders Protest Tax Policy, Motorcycle Rally Held in Chitwan

Ameer Ramdam, Chitwan – Gold and silver traders in Chitwan organized a united protest today, conducting a large-scale motorcycle rally against the government’s recent tax policy which classifies gold as a luxury item and imposes additional taxes.

The protest was jointly organized by the Federation of Gold and Silver Dealers, Chitwan; Eastern Chitwan Gold and Silver Dealers Association; and Ratnanagar Gold and Silver Dealers Association. The traders are demanding the revocation of the new tax provision, reduction of customs duty on gold to 6% (in line with neighboring India), and the formulation of clear policies and regulations for the gold and silver trade.

Hem Bahadur Bishwakarma, President of the Chitwan Gold and Silver Dealers Association and Coordinator of the Joint Protest Committee, stated, “Gold has long been an integral part of Nepali tradition and culture. Treating it as a luxury is impractical. Even the Civil Code 2074 recognizes gold as equivalent to cash, so such a tax policy is unjustified.”

Addressing the warning assembly, Prem Khati, Third Vice President of the Nepal Gold and Silver Gems and Jewelry Federation, accused the government of attempting to cripple the gold and silver business. “This tax policy is impractical. If the government does not immediately revoke it and address our legitimate demands, we will be forced to escalate our protests.”

Tulak Prasad Bishwakarma, General Secretary of the Nepal Federation, expressed outrage over the government’s justification that the luxury tax is necessary to remove Nepal from the FATF’s grey list. “This excuse is shameful,” he said, adding that the extra tax on gold and silver jewelry is unfair to both traders and customers and threatens the entire industry.

Several other leaders also voiced their concerns during the assembly, including Ram Krishna Sunar (Bagmati Province Secretary, Federation), Dinesh Khati (Bagmati Province Member), Bishnu Lakai Sunar (President, Eastern Chitwan Association), Dipak Century (President, Ratnanagar Association), Utsav Khati BK (Senior Vice President, Chitwan Association), and Gopal Bahadur BK Thapa (General Secretary, Chitwan Association).

The motorcycle rally began at Bakulahar Chowk in eastern Chitwan and passed through Khola Sim, Tandi, Parsa, and ended at Bhandara. Warning assemblies were held at four different locations along the route.

Earlier, on July 2 (Asar 18), a joint protest rally and warning assembly was also held in Bharatpur.

The gold and silver traders have warned of more intense and widespread protests if their demands are not addressed by the government.