Nepal’s Small Scale Business Owners Protest against the unfair Tax Policy
KATHMANDU: The Association of Small and Cottage Scale Business owners made it to Federation of Nepalese Chambers of Commerce and Industry (FNCCI), Teku to submit their demands to Vice president Mr. Kishore Kumar Pradhan against unfair tax policy.
The small scale business owners have come to the streets to demand against the heavy tax collection levied on the small businesses in Nepal, who criticized against the collection of double tax through PAN as well as VAT. Voicing out the dissatisfaction about the low demarcation of threshold on VAT payment, the workers say, “The turnover from small scale businesses is too low to survive in Kathmandu, let alone payment of taxes, due to raising inflation in products and terribly expensive living costs.
The current VAT Act of Nepal has demarcated the threshold for compulsory registration as NRs 5 million for a turnover exceeding over the last 12 months in case of goods, and NRs 2 million for services or both services and goods. One of the protesters added, “we also plea for the fair services for the amount of tax paid to the authorities and that special consideration to be given to our appeal while drafting the laws concerning our living.”
Published Date: Sunday, August 18th, 2019 | 07:09 AM