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IRD intensifies actions against tax-evaders

KATHMANDU: The government has intensified investigation and action against business firms involved in evading huge amount of Value Added Tax (VAT).

Investigation into 512 among the total 518 industrial firms, under scrutiny through 24 revenue offices across the country, has been completed.

Total sum of the tax evaded by industrial firms has been determined, according to Finance Secretary Krishna Hari Baskota.

Decision has also been made concerning 73 among the 131alleged tax evaders, who had submitted applications to the Inland Revenue Department (IRD) for administrative review.

He also said that around Rs. 874.6 million has been so far deposited from taxpayers filing application for review.

Only six firms have remained for investigation up to last March 13,  Baskota further said.

Total tax determined for 512 firms that underwent investigation stood at Rs. 6 billion. RSS

Published Date: Friday, March 16th, 2012 | 06:28 PM

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