Fire And Ice fined
KATHMANDU: The Inland Revenue Office of Thamel has slapped a fine of Rs 5,000 on Fire And Ice, a Thamel-based restaurant famous for its pizzas, for issuing value added tax invoice without mentioning the seller’s name and permanent account number.
“A representative of the restaurant visited the office, acknowledged the mistake and paid the fine,” said Tanka Nath Lamsal, head of the tax office. “We have warned the restaurant not to repeat the mistake.”
Fire And Ice was found issuing value added tax invoices without mentioning the seller’s name and permanent account number. This practice raises doubts whether or not tax collected from consumers is going to state coffers. Invoices of VAT-compliant businesses must contain bill number, permanent account number, sellers’ and buyers’ names, breakdown of taxes and taxable amount. Sellers can also issue ‘abbreviated tax invoice’, which allows them to issue bills without mentioning taxes that have been levied. But such invoices should also include seller’s name and permanent account number.
The taxman can fine sellers anywhere between Rs 1,000 to Rs 20,000 for each offence related to VAT evasion.