IRD takes measures to enhance advance tax deduction for high-income individuals

Published On: June 15, 2023 04:00 PM NPT By: Republica  | @RepublicaNepal


IRD takes measures to enhance advance tax deduction for high-income individuals

KATHMANDU, June 15: The Inland Revenue Department (IRD) has issued directives to its subordinate agencies to strengthen the process of advance tax deduction for individuals earning four million rupees or more.

In a letter addressed to the large and mid-level taxpayer offices, internal revenue offices, and taxpayer service offices, the IRD has emphasised the need to thoroughly examine the tax details of individuals with an income exceeding four million rupees.

The directive mandates a comprehensive review of the income tax deduction at source (TDS) filings and the accuracy of the information provided by taxpayers earning above the mentioned threshold. All aspects related to this matter should be thoroughly examined and recorded in the Electronic Audit and Investigation Management System (EAIMS).

The IRD has also made provisions to enable the identification of taxpayers, who have an income of four million rupees or more, but have not submitted their income statements.

 


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