Nepali Times
Domestic Brief
3,000 new tax payers


When the Voluntary Declaration of Income Scheme (VDIS) ended Tuesday, the Inland Revenue Department (IRD) had more than 3,000 new taxpayers and additional revenue of Rs 605 million. On closing day alone property worth Rs 100 million was disclosed and net revenue of Rs 10 million was collected. The VDIS announced by Finance Minister Ram Sharan Mahat in the budget last July ended on 13 January, but was extended for month "at the request of the business community". The IRD is now all set to take action against those who should have, but did not show up at the tax office. IRD officials say the department's action against defaulters will depend on priority and the information it has gathered, and may even include raids and confiscation of property.



LATEST ISSUE
638
(11 JAN 2013 - 17 JAN 2013)


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