Tax Burden on Gold and Silver Trade Sparks Protest in Chitwan

Amir Ramdam,
Bharatpur, July 2 — Gold and silver traders organized a massive protest in Bharatpur, Chitwan, today, demanding the cancellation of recently imposed taxes on the precious metals.

The protest was jointly led by the Nepal Gold and Silver Traders' Association, Chitwan, Chitwan Eastern Gold and Silver Traders' Association, and Ratnanagar Gold and Silver Traders’ Association (Municipal Association). Their key demand was the removal of the 2% luxury tax on gold and 13% VAT on diamonds and gemstones.

During the demonstration, Hem Bahadur Bishwakarma, President of the Nepal Gold and Silver Traders’ Association, Chitwan, criticized the government’s decision to impose a luxury tax during a time when gold prices are already soaring. He called the move impractical and burdensome.

Prem Khati, Third Vice-President of the Federation of Nepal Gold, Silver, Gem & Jewellery Associations, vowed to continue the protests until the luxury tax and VAT on diamond-studded jewelry are fully scrapped.

Tulak Prasad Bishwakarma, Secretary of the same federation, accused the government of trying to sabotage an industry that provides employment to thousands across the country.

“Imposing 2% on gold and 13% VAT on diamonds and gemstones is outright wrong,” he stated.

The joint protest rally and awareness assembly saw participation from various sectors. Jeevalal Puri, President of the National Consumer Forum, Chitwan, and Chiranjivi Subedi, Senior Vice-President of the Chitwan Chamber of Commerce and Industry, both expressed solidarity with the traders and urged the government to address their legitimate concerns immediately.

Speakers at the event included Advocate Jeevan Jyoti Bishwakarma, Spokesperson of the Federation, Dr. Yam Bahadur BK, Former President of the Chitwan Gold and Silver Association, Bishnu Lakai Sunar, President of the Eastern Chitwan Association, and Deepak Century, President of the Ratnanagar Association.

The protest rally started from Balkumari Chowk and passed through Milan Road, Sahid Chowk, Lions Chowk, and Birendra Campus Gate, culminating in an assembly at Chowbiskoti.

The awareness assembly was chaired by Hem Bahadur Bishwakarma, also the Coordinator of the Joint Protest Mobilization Committee, while Gopal Bahadur BK Thapa, General Secretary of the Association and Member Secretary of the committee, facilitated the program.