IMF’s unease

May 25, 2024 07:30 am

The first round of ‘engagement’ between Pakistan and the IMF over the former’s request for a larger and longer programme appears to have concluded — with some bumps still visible. Both sides are believed to have reached an understanding on the reform measures that Islamabad must include in the budget for the next financial year and get approved by parliament before an agreement on a new bailout facility is signed.

BIRGUNJ, April 16: Birgunj Metropolitan City (BMC) has collected more than Rs 360 million in taxes in nine months of the current fiscal year.

BIRGUNJ, April 14: Security personnel of Parsa have seized goods worth over Rs 560 million smuggled in by evading taxes in the first nine months of the current financial year.

MORANG, July 12: The Civil Aviation Authority of Nepal (CAAN) has announced its decision not to pay taxes to the local government at Biratnagar Airport. Rinji Sherpa, chief of CAAN in Biratnagar, clarified that according to the Local Self-Government Act, the airport is exempt from paying any taxes to the metropolis.

KATHMANDU, June 9: Tourism and aviation entrepreneurs have jointly expressed their displeasure over the tax rates announced by the government for the next fiscal year 2023/24. Tourism entrepreneurs also submitted a proposal to the government  in this regard on Friday.

KATHMANDU, June 6: Lawmakers have demanded the government revisit the taxes imposed on the import of electric vehicles (EVs).

KATHMANDU, Sept 25: The manufacturers of iron rods on Saturday slammed the government’s move to raise the taxes on the import of billet, the main raw material to produce iron bars, and said they would continue with their protests until the government revokes its decision.

Here’s to you!

February 28, 2020 09:49 am

First of all, let us take a sip of our doodh chiyas and give a round of applause to Gokul dai for resigning from office. Our former (mis)information mantri can now start writing a weekly column for one of our newspapers since he will have a lot of free time. Gokul dai is not the first mantri to ask for commission from big shady deals. He would have given some of it to his mother party, some to his spouse, some to his near and dear ones and they would all have had some fun with the free illegal money.

KATHMANDU, March 6: The Inland Revenue Department (IRD) on Tuesday filed a case against 24 business firms accusing them of evading taxes amounting to Rs 1.75 billion by registering fake companies.

BIRGUNJ, Feb 4: Ministry of Federal Affairs and General Administration has issued a circular to all 753 local units across the country, instructing them against levying taxes on production and exports.

The new federal government hiked tax rates on several consumer goods through the budget. Similarly, provincial and local governments are also doing the same, overcharging citizens on even basic services like birth registration.

MOSCOW, July 6: According to the Minister Maxim Oreshkin, Russia plans to tax $87.6 million worth of US annual imports, while the remaining taxes could be applied within three years in order to compensate for $537,6 mln, which Russian exporters lost due to the tariffs in the US.

People with annual earnings of up to Rs 450,000 will have to pay only 1% social security tax for Rs 350,000 and 10% of the remaining Rs 100,000. Under this taxation, the total income tax on annual income of Rs 450,000 will be Rs 13,500.

KATHMANDU, Feb 28: Independent Power Producers’ Association Nepal (IPPAN) has asked the local government units not to impose any new tax on the hydropower projects before the government formulated clear laws of taxation on this sector in the federal setup.

JHAPA, Feb 7: The tax overdue of Sanghai Group to Mechinagar Municipality has exceeded Rs 250 million. The group, like many others, has refrained from paying taxes for the past many years.

KATHMANDU, Jan 1: In a eight year long dispute between five-star hotels and Nepal Recreation Centre (NRC) regarding paying the royalties and income tax for the operation of casinos, the Supreme Court on Sunday directed the NRC to pay over Rs 1 billion in taxes to the government.

KATHMANDU, Dec 14: The Supreme Court on Wednesday issued a show cause notice to the government authorities demanding clarification on why it is planning to collect additional five percent medical tax on top of 13 percent Value Added Tax (VAT) for patients receiving medical service from private hospitals.

KASKI, Nov 22: Sixteen business houses and trading firms have been blacklisted by the Inland Revenue Office (IRO), Pokhara after they were found evading Value Added Tax (VAT).

NEPALGUNJ, Nov 1: An Indian truck with registration UP 35 T 7307 loaded with electrical appliances worth Rs 2 million entered Nepal on Saturday evening without completing customs procedures.

BIRGUNJ, Sept 3: Basruddin Ansari, who during his tenure as the managing director of the Birgunj-based National Medical College evaded over Rs 90 million in taxes, has been fielded by the CPN-UML as its candidate for the post of Birgunj Metropolitan City of Parsa district.

KATHMANDU, August 30: Buddha Air paid a total of Rs 592.25 million in different taxes to the government in Fiscal Year 2016/17.

After failing to repeal Obamacare, Republicans in the U.S. Congress quickly pivoted on Friday to President Donald Trump's next priority: overhauling the federal tax code, but their plan has already split the business community.

WASHINGTON, MArch 15: President Donald Trump paid $38 million in taxes on more than $150 million in income in 2005, the White House said on Tuesday, responding to an MSNBC report that the network had obtained two pages of the returns.

NEW YORK, Sept 27: Hillary Clinton emphatically accused Donald Trump of purposely keeping his personal tax returns and business dealings secret from voters, declaring during Monday night's presidential debate, "There's something he's hiding."