KATHMANDU, June 9: Private sector has urged the government to waive the additional charge for the COVID-19 affected firms that have been unable to settle the taxes within the mandated time frame.
Issuing a joint press statement on Wednesday, the umbrella organizations—the Federation of Nepalese Chambers of Commerce and Industry (FNCCI), Confederation of Nepalese Industries (CNI) and Nepal Chamber of Commerce (NCC) — said that a large number of enterprises are not in a position to file the details on value added tax and excise duty and settle these tax on monthly basis.
They have also called on the traders concerned, who are able to pay the taxes on time, to settle their financial liabilities to help the government that is struggling to collect sufficient revenue due to the second wave of the COVID-19.
An estimated 70 percent of the businesses have remained closed following the spread of the second wave of the pandemic and over a month-long prohibitory orders. The private sector has also said that the collection of targeted revenue worth Rs 1.024 trillion for the next fiscal year will be a tough task for the government.