KATHMANDU, Dec 2: The Federation of Nepalese Chambers of Commerce and Industry (FNCCI) has urged the government to simplify the policy and procedural difficulties in taxation.
In a meeting with Shova Kanta Poudel, director general of the Inland Revenue Department on Thursday, the umbrella organization of the private sector, expressed its concern. According to the FNCCI, the entrepreneurs concerned have been facing a number of hassles due to the government officials interpreting the existing tax laws differently.
The FNCCI urged the tax authority to simplify the provision of advance tax payment system, issue of value added tax payment on the goods transaction carried out on credit and authenticating the invoice in which actual transactions are done at a lower rate than the cost price. Delay in the implementation of the court’s verdicts related to the cases on taxation issues by the government authorities is among the concerns raised by the FNCCI.