KATHMANDU, Aug 10: Finance Minister Swarnim Wagle on Monday held discussions with representatives of the 20 highest tax-paying multinational companies operating in Nepal.
During the meeting, Chief Corporate and Regulatory Officer of Ncell, Dilli Ram Shrestha, said the ad hoc arrest of entrepreneurs has raised the question of security of businesspersons. Shrestha urges the government to implement a predictable tax system, review labour related laws and to end differentiated fees on renewal of business licenses for firms.
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In response, Wagle said the government’s primary responsibility is to protect legitimate investments, assets created and profits earned in Nepal. He said the government’s priority is no longer limited to tax collection but also to accelerating the cycle of production, investment, profit and reinvestment.
Wagle acknowledged that businesses are not merely profit-making entities but also among the country’s largest taxpayers, employers and investors.
The 20 top tax-paying companies operating in Nepal include Surya Nepal Pvt Ltd, Ncell Axiata Limited, Aarti Strips, Gorkha Brewery, Himalaya Airlines, Hongshi Shivam Cement, Doosan Energy Company Limited, Dabur Nepal Pvt Ltd, Bottlers Nepal (Terai) Limited, Unilever Nepal Limited and Asian Paints (Nepal) Pvt Ltd.
Senior officials from Power Construction Corporation of China, Gorkha Lahari, Huaxin Cement Narayani, New Hope Agro Business Nepal, Nepal Wellhope Agri-Tech Pvt Ltd, Varun Beverages Nepal, Turkish Airlines, Bhotekoshi Power Company and Berger Jensen & Nicholson (Nepal) Pvt Ltd also participated in Monday’s meeting with Minister Wagle.
