Kathmandu, Nov. 23
Surya Nepal is honoured by the government for paying the
highest amount of tax in the last Fiscal Year 2022/23.
Finance Minister Dr. Prakash Sharan Mahat honoured the
company at programme organised by the Inland Revenue Department (IRD) on the
occasion of the National Tax Day 2080 on Thursday morning in Kathmandu.
Surya Nepal has topped the list of high tax payers in two
different categories. It has also been recognised as the one that filed the
taxes on time.
Bijaya Bahadur Shah has become the highest tax paying person
in the country.
Nepal Telecommunication Company (NTC) Limited has become the
company to pay the highest income tax while Dabur Nepal Pvt. Ltd. has been
awarded for exporting goods of largest amount among the Nepali exporters.
Likewise, from special industries category, Asian Paints has
filed the largest amount of taxes, and from the banking sector, Global IME Bank
topped the list.
The IRD awarded the highest tax payers OCB Feeds Pvt. Ltd.
from agriculture and livestock, Chhimek Laghubitta from microfinance, Life
Insurance Corporation Nepal from insurance, Nobel Medical College Teaching
Hospital from health and education, Manakamana Darshan Pvt. Ltd. from tourism,
Bhatbhateni Supermarket from goods trading, Nepal Stock Exchange from mid-scale
tax payers, Bhotekoshi Power Company from energy, and IME Limited from
remittance.
Addressing the programme, FM Dr. Mahat said that the
flexible monetary policy adopted by the Nepal Rastra Bank (NRB) has caused some
discomfort in the economy by increasing flow of loans in unproductive sectors.
According to him, the expansionary monetary policy increased
the transactions in real estate and stock market as the bank loan was available
in lower rate, and it is now having repercussions on the economy.
He claimed that the short-sighted policies of the government
and the NRB have increased investment in unproductive sectors such as land,
houses, vehicles, view towers, stock market and crypto currencies.
"There is laxity in the economy of the world, and we
also experienced that laxity which was created due to the internal and external
reasons," he said while maintaining that the economy is now moving in a
positive direction and the government is encouraging investments and promoting
job creation, production growth and use of green energy.
Instructing the employees of the tax administration not to
cause trouble to the taxpayers under any pretext, he asked the IRD to make
arrangements to honour the best taxpayers in the small and medium enterprise sectors.
Acting Director General of the Department, Arjun Prasad
Bhattarai, said that the scope of revenue has been expanded, and by the end of
the last Fiscal Year 2022/23, 1.876 million business permanent account numbers
and 3.649 million personal permanent account numbers have been issued. The
total number of registered tax payers has crossed 5.554 million.
President of the Federation of Nepalese Chambers of Commerce
and Industry, Chandra Prasad Dhakal said that the central bank and the
government should join hands to improve the current situation in the economy.
He said that increasing bad loans in banks and financial institutions have
added to the worries of banks.
Dhakal also urged the NRB to announce special financial instrument
for the small and medium enterprises without disturbing the current system.
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