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

KATHMANDU, March 30: The government's aim to switch to domestic sources from taxes on imported goods for major tax revenue collection seems to have yielded success to some extent with the significant rise in value-added tax (VAT) from internal economic activities.

KATHMANDU, Jan 13: Supreme Court on Monday concluded that Bhatbhateni Super Stores had involved in tax evasion through the use of fake Value Added (VAT) bills.

KATHMANDU, Nov 19: The Department of Revenue Investigation (DRI) on Sunday filed cases at the Kathmandu District Court against three owners of two firms for evading taxes worth Rs 17.42 million by using the fake value-added tax (VAT) bills.

KATHMANDU, Sept 17: In the wake of separate taxes imposed on community forest user’s groups (CFUGs) by all three tiers of government, the Federation of Community Forest Users Nepal (Fecofun) has announced a nationwide protest starting Tuesday demanding withdrawal of ‘overlapping’ taxes.

KATHMANDU, Aug 8: A total of 6,283 people have got PAN (permanent account number) and VAT (value-added tax) registration from the Inland Revenue Office (IRO), Dhulikhel in two months.

KATHMANDU, June 7: Nepal Flour Mills Association (NFMA) has criticized the government’s decision to impose Value Added Tax (VAT) on refined wheat flour.

KATHMANDU, June 4: To improve value-added tax (VAT) compliance and ensure recovery of the VAT paid by the government to contractors or suppliers of public entities, the government has amended VAT Rules.

Reban removes 10 percent service charge

January 30, 2019 09:51 am

KATHMANDU, Jan 30: Restaurant and Bar Association Nepal (Reban) has decided to remove 10 percent service charge levied on clients.

KATHMANDU, Nov 15: Sixteenth Handicraft Trade Fair and 14th Craft Competition, organized by the Federation of Handicraft Associations of Nepal (FHAN), kicked off at Bhrikuti Mandap in Kathmandu on Wednesday.

KATHMANDU, Aug 28: The government has got off to a good start in terms of revenue mobilization as it came close to meeting its revenue target for the first month of Fiscal Year 2018/19. According to data of the Ministry of Finance, the government collected a total of Rs 62.97 billion in revenue in the first month (mid-July to mid-August) of the current fiscal year, compared to the target of Rs 63.64 billion. The revenue collection, however, Rs 670 million short of the revenue target for the month.

Achieving VAT target

July 26, 2018 01:00 am

New budget’s revenue target of VAT hinges on how effectively Inland Revenue Department controls evasion up to retail sales

KATHMANDU, July 16: Small enterprises including beauty parlors and small-scale shirting and suiting shops will have to mandatorily register in Value Added Tax from Tuesday, the first day of the Fiscal Year 2018/19.  The provision endorsed in the budget has put these small enterprises under existential threat, according to Federation of Nepalese Chambers of Commerce and Industry (FNCCI).

KATHMANDU, Jun 1: The government has decided to waive off value added tax (VAT) on brokerage service charge on transaction of securities, ending the uncertainty over taxation of such transactions.

Evaluating VAT

April 24, 2018 01:30 am

Unwanted exemptions and unnecessary revision have been made in VAT Act to overcome internal weakness. This needs to be corrected.

DUBAI, Dec 27: Saudi Arabia and the United Arab Emirates, which have long lured foreign workers with the promise of a tax-free lifestyle, plan to impose a 5 percent tax next year on most goods and services to boost revenue after oil prices collapsed three years ago.

KATHMANDU, Aug 7: The Department of Revenue Investigation (DRI) recently found that a licensed tax assistant had set up three firms to create fake VAT bills through artificial transactions.

KATHMANDU, June 29: Stock brokers have halted the trading of shares in the stock market to protest against the Inland Revenue Department's order to register themselves for value added tax (VAT).

KATHMANDU, April 14: Tablet personal computers (PCs) are different from smartphones. But tax officials have defined tablet PCs as smartphones and given value added tax (VAT) reimbursement to importers. “

KATHMANDU, March 28: President of the Federation of Nepalese Chamber of Commerce and Industry (FNCCI), Pashupati Murarka, has said that he would lobby with the concerned government agencies to make postal service exempt from VAT.