615 traders booked, IRD intensifies market monitoring

KATHMANDU: The Inland Revenue Department on Monday said 615 traders were booked for evading taxes to the government after it intensified its market monitoring during festive season in Kathmandu.

Issuing a press statement today, IRD said three teams each from 36 offices under the IRD were mobilised for market monitoring from Friday.

Many complaints were registered at IRD regarding the traders reluctant in providing the bills to the costumes during the festive season.

615 out of 3905 traders cross checked by 442 teams of the market monitoring, were booked as per the existing tax laws in the country. IRD said revenue worth Rs 38,48,000 were collected from 615 traders, it said in the statement.

IRD had summoned 21 traders with necessary documents, further investigation is underway.

The team also seized liquor and tobacco without VAT stickers during their inspection in the valley.

Traders were found using fake VAT stickers, use of illegal liquor, failing to maintain ledger, failing to show details, operation of business without registration, not paying house rent taxes to the concerned authorities and others were also booked as per the existing laws on the spot, reads the statement.

The team seized the account books of the suspicious traders and sent them written notification to present before the IRD for further investigation.

Market Monitoring teams headed by the Tax Officers gave tax payers education and urged them to comply with the rules and regulations of the country.

Meanwhile, the IRD has said the market monitoring will be continued for whole year and would take stern actions against those traders failing to improve in their behaviors to maintain transactions records properly, according to the statement.

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