KATHMANDU, March 23: The number of taxpayers who have registered for a Permanent Account Number (PAN) has exceeded 433,000 in the first seven months of the current fiscal year 2024/25.
According to the Ministry of Finance, by mid-February, the number of PAN registrants reached 433,703. In the same period of the previous fiscal year, 426,330 taxpayers had registered.
PAN mandatory for all income earners from mid-July
By mid-February, 363,702 individuals had registered for individual PANs. In the previous fiscal year, the number of individual PAN registrants was 352,311.
During this period, the composition of the total registered PANs is as follows: 69.3 percent individual PANs, 30.2 percent business PANs and 0.5 percent PANs registered by tax deduction entities.
In the past year, the number of individuals registering for business PANs has decreased. By mid-February in the previous fiscal year, 70,648 people had registered for business PANs, while in the same period of the current fiscal year, the number decreased to 68,485. Additionally, in the first seven months of the current fiscal year, 1,516 PANs were registered by tax deduction entities, compared to 3,371 in the previous fiscal year.
Similarly, the number of taxpayers registering for VAT (Value Added Tax) and excise tax PANs has also decreased. By mid-February in the previous fiscal year, 16,036 PANs had been issued for VAT, and 6,314 PANs had been issued for excise tax. In the same period of the current fiscal year, the number of VAT registrants has decreased to 14,299, while the number for excise tax has reduced to 5,764.
According to the ministry, a total of 6.659 million taxpayers have registered for PAN till mid-February.
