Nepal | July 02, 2020

Govt felicitates highest taxpayers

• National Tax Day

Umesh Poudel
Share Now:

Kathmandu, November 17

The government has honoured the highest taxpayers of the country under different categories on the occasion of the eighth National Tax Day today.

The highest taxpayers were honoured also to promote the taxpaying culture. Finance Minister Yubaraj Khatiwada honoured the top companies in 15 categories amidst a programme organised by Inland Revenue Department.

IRD has classified the highest taxpayers as per individual, industry, agriculture, financial sector, insurance, tourism and trade categories, among others.

Among the companies, Surya Nepal was announced the highest taxpayer. Surya Nepal has been a top taxpayer thrice in the past as well. Similarly, Siddhartha Sumsher Rana was the top taxpayer under the individual category. Rana is involved in hotel, trading and travel sectors. He has been honoured continuously for the last six years as the top individual taxpayer.

Likewise, Dabur Nepal was honoured for being the highest exporter and Jagdamba Steel Industries for paying the highest taxes from among firms not selling tobacco or alcohol products. Among cooperatives, Chhimek Laghubittiya Bittiya Sanstha bagged the highest taxpayer award while Kamana Sewa Bikash Bank and Rastriya Banijya Bank were honoured among development and commercial banks, respectively. Similarly, Nepal Life Insurance Company was felicitated among the insurance companies.

In the Information and Technology sector, WorldLink Communication was the highest taxpayer and Taragaon Regency Hotel was honoured in the tourism sector. Other companies to be felicitated were Annapurna Agro International, Manipal College of Medical Sciences, Agni Incorporate,  VS Services and Ghorahi Cement Industry.

However, IRD has not divulged the amount paid by the companies or individuals who have been felicitated as the
highest taxpayers.

Meanwhile, IRD also awarded the 10 best employees on the occasion for their performance.

Speaking on the occasion, Khatiwada said that the government is committed to creating a conducive investment environment for private sector growth. “There are some challenges for industrialists and entrepreneurs due to tax in the new federal system. We are planning to introduce a new tax system to make it better.”

Khatiwada further said he was aware that he was unpopular among the business fraternity for expanding the range of taxation, but he clarified that such confusions were natural in the current transitional phase. “We have a responsibility to increase domestic revenue collection system massively. Otherwise, the country would need loans from other countries, which could be harmful to the country’s economy in the long run.”

A version of this article appears in print on November 18, 2019 of The Himalayan Times.

Follow The Himalayan Times on Twitter and Facebook

Recommended Stories:

More from The Himalayan Times:

NASA TV go live with their ISS spacewalk broadcast

KATHMANDU: NASA is broadcasting live International Space Station (ISS) expedition on a SpaceX’s Crew Dragon, being performed by NASA astronauts Chris Cassidy and Robert Behnken today, at 10:00 UTC (6:00 am EDT/ 3:45 pm in Nepal). The astronauts are scheduled to depart the ISS’s Quest airlock Read More...

Gandaki Province's coronavirus infection cases tally nears 1000

POKHARA: Gandaki Province is fast approaching the 1000 mark with 28 additional cases of the coronavirus infection being detected today. The new cases were confirmed through tests conducted at the National Public Health Laboratory (NPHL) in Kathmandu, Pokhara Health Science Academy, Pokhara and Bh Read More...

Dybala solo goal, Ronaldo rocket set up Juve win

GENOA: Juventus secured a 3-1 win at lowly Genoa on Tuesday to stay four points clear at the top of Serie A thanks to a solo goal by Paulo Dybala, a long-range rocket from Cristiano Ronaldo and an exquisite curling shot by Douglas Costa. Genoa held out defiantly until halftime with goalkeepe Read More...

UK house prices fall for first time since 2012: Nationwide

LONDON: Britain's house prices fell in annual terms for the first time since 2012 in June as the country reeled from the coronavirus shock to the economy, mortgage lender Nationwide said on Wednesday. Nationwide said its measure of house prices fell by 0.1% compared with June of las Read More...

Hong Kong police move swiftly against protests to enforce new law

New Hong Kong security law comes into force Hundreds defy police ban to protest new law Suspects arrested by Chinese agents may face mainland trial Pro-Beijing politicians welcome city's 'second return' BEIJING/HONG KONG: Hong Kong police moved swiftly on Wednesday against protesters Read More...

Hong Kong police make first arrest under new security law

HONG KONG: Hong Kong police made their first arrest under a new national security law imposed by China's central government, arresting a protester Wednesday for carrying a flag calling for Hong Kong's independence. The man was arrested after police had issued multiple warnings to the crowd at a p Read More...

PM Oli holds meeting with his ministers, excluding a few

KATHMANDU: Prime Minister KP Sharma Oli held discussions with the Ministers in his government at his Baluwatar residence, today. At the meeting, the subject of top-leaders of ruling Nepal Communist Party (NCP) demanding the PM's resignation during Tuesday's Standing Committee meeting was broadly Read More...

NCP Standing Committee meeting postponed after over one hour of discussion

KATHMANDU: Standing Committee meeting of the ruling Nepal Communist Party (NCP) has been postponed until tomorrow. The meeting was halted after five members of the committee expressed their views. Leelamani Pokharel, Matrika Yadav, Yogesh Bhattarai, Peshal Khatiwada and Nandu Prasain expressed th Read More...