KATHMANDU, Jan 31: Supermarket Bhatbhateni, accused of conducting business using fake VAT bills, has been ordered by the Supreme Court (SC) to pay more than Rs 1.6 billion to the government. After the order of the Supreme Court, it has been confirmed that Bhatbhateni conducted business through fake VAT bills. Bhatbhateni now has to pay the amount to the government after the SC upheld its previous verdict that the supermarket had evaded tax.

KATHMANDU, Dec 21: The Inland Revenue Department (IRD) has asked the business entities having annual turnover of more than Rs 250 million to get registered in the Central Billing Monitoring System (CBMS).

KATHMANDU, Dec 8: The Inland Revenue Department (IRD) has explicitly stated that there will be no value-added tax (VAT) on products such as potatoes, onions, and apples produced in Nepal. In the current fiscal year's budget, the government had imposed VAT on certain items that were previously exempt from VAT.

KATHMANDU, Dec 4: The Inland Revenue Department (IRD) has started an investigation over Axiata's exit from Ncell on suspicion of possible evasion of taxes by the company.

The Inland Revenue Department (IRD) has initiated an investigation into Axiata Group's exit from Ncell, amid suspicion of potential tax evasion. The controversy surrounds Axiata's sale of 80 percent stakes in Ncell to Spectrlite UK for a seemingly undervalued amount of US$ 50 million (Rs 6.5 billion).

KATHMANDU, Nov 26: While the government struggles to manage adequate revenue to meet its daily financial liabilities, the Inland Revenue Department (IRD) is found unable to recover accrued tax dues worth more than Rs 113.07 billion.

The government’s revenue collection target in the first two months of the current fiscal year fell short of the target by 18 percent. The Inland Revenue Department (IRD) and the Department of Customs (DoC) set a target of revenue collection of Rs 165.88 billion for the period between mid-July and mid-September.

KATHMANDU, June 27: In a bid to crack down on the illicit trade of smuggled liquor, the Inland Revenue Department (IRD) has issued a directive instructing police authorities to act against the sale and distribution of illegally imported alcohol. IRD has stated that both domestic and foreign liquors must be sold only with affixed excise stickers and exclusively by authorized vendors.

KATHMANDU, June 21: The Special Court on Tuesday slapped a nine-year jail sentence to former chief of the Inland Revenue Department (IRD), Chudamani Sharma – the mastermind of the country’s multi-billion rupee corruption cases. Sharma has been convicted of accepting kickbacks to settle tax arrears while he was with the Tax Settlement Commission.

KATHMANDU, June 20: Kathmandu Metropolitan City (KMC) has written to the Inland Revenue Department (IRD) demanding that the latter provide house rent taxes collected in Kathmandu to the metropolis.

KATHMANDU, June 17: The government's revenue collection for the current Fiscal Year (FY) has fallen short compared to the previous FY.

KATHMANDU, March 16: Government authorities have failed to meet the target of inland revenue collection in the first eight months of the current fiscal year. According to the Inland Revenue Department, the collection is just around 80 percent of the target.

KATHMANDU, March 7: The Inland Revenue Department (IRD) has started a full audit of 105 big firms, on suspicion of manipulating the filed tax amounts in relation to their financial turnover.

KATHMANDU, September 15: Permanent Account Number (PAN) has to be submitted compulsorily while purchasing a four-wheeler from now onward.

Home-made liquor seized in Biratnagar

September 12, 2022 12:35 pm

MORANG, September 12: Police have seized liquor that was produced and sold illegally in the local market in Biratnagar.

KATHMANDU, Aug 16: The government has introduced a number of waivers, exemptions and reliefs on income tax, fines and interests accrued on tax liabilities for those taxpayers who have either not come under tax net or late on filing tax returns.

KATHMANDU, April 7: The Inland Revenue Department (IRD) has extended the deadline to file value-added tax (VAT) dues till May 7.

KATHMANDU, Feb 11: The Inland Revenue Department on Tuesday introduced a new system, according to which, the consumers who make purchases through electronic means would be able to get a 10 percent rebate on the 13 percent VAT they have paid to the government.

3.17 million PAN cards issued so far

February 6, 2020 11:28 am

KATHMANDU, Feb 6: The Inland Revenue Department (IRD) has issued a total of 3.17 million PAN cards across the country as of mid-January.

KATHMANDU, July 21: Almost 100,000 PAN cards have been issued by Inland Revenue Department (IRD) after the government made Permanent Account Number (PAN) card mandatory for all salaried workers from the current Fiscal Year 2019/20.

KATHMANDU, July 15: Inland Revenue Department (IRD) has said that it was positive about providing Permanent Account Number (PAN) to Indian laborers employed by Nepali construction sector.

KATHMANDU, July 1: Suman Kumar Gupta, 23, recently applied for Permanent Account Number (PAN) at a taxpayer service office of Inland Revenue Department in Kathmandu. “I had to apply for PAN as my employer asked me to get PAN before joining them,” Gupta, who has recently been hired by a commercial bank, told Republica.