Surya Nepal honored as largest taxpayer

KATHMANDU, Nov 16: Surya Nepal Pvt Ltd is the largest taxpayer in the country.The government honored Surya Nepal Pvt Ltd amid a function organized in Kathmandu on Wednesday to celebrate 5th National Tax Day.

Surya Nepal, which manufactures products ranging from cigarette to readymade garments, safety matches and incense sticks, paid the highest tax to the government in Fiscal Year 2015/16.

Similarly, Siddhartha Shamsher Janga Bahadur Rana was honored as the highest income-tax payers in individual category. Rana is the managing director of Tara Management Pvt Ltd, an investment and management company, which promotes Bhote Koshi Power Company and Surya Fund, among others. 

The government also honored 13 different organizations/individuals in different tax categories during the program. Deputy Prime Minister and Minister for Finance Krishna Bahadur Mahara handed over letter of felicitation to the organizations and individuals.

Nepal Telecom Company Ltd was honored for being the highest Value Added Tax (VAT) payer. According to Inland Revenue Department, NTC has been regularly submitting tax details in time since it was listed in VAT some 19 years ago. Likewise, Nabil Bank Ltd was declared highest taxpayer amongst bank and financial Institutions (BFIs). Life Insurance Corporation Nepal Ltd and IME Ltd received the government recognition for becoming the highest taxpayer in insurance business and remittance business, respectively. 

Likewise, National Co-operative Bank Ltd was the top taxpayer amongst cooperatives, while Chhimek Laghubitta Bikas Bank took the honors for the microfinance companies. 

Om Chao Biro Feed Industries Pvt Ltd became the highest income taxpayer in agriculture and livestock business. Similarly, Unilever Nepal Ltd was the highest income taxpayer in the special industry category. Sipradi Trading Pvt Ltd and Shangrila Energy Pvt Ltd were the highest income taxpayers from trading and small taxpayers (firms having annual transactions of up to Rs 50 million) category. 

CIWEC Hospital Pvt Ltd and Taragaon Regency Hotels Ltd were honored for paying highest amount of income tax amongst medium tax payers (firms having annual transactions between Rs 50 million and Rs 400 million) and tourism industry, respectively.