Wednesday May 18, 2022
Wednesday May 18, 2022

Over 1.3 million companies renewed

2021 Nov 02, 15:24, Kathmandu
This undated image shows the building of the Ministry of Finance in Singha Durbar, Kathmandu. Photo: RSS

More than nearly 1.3 million companies have renewed their registration, taking benefit of the concession provision announced by the government.

The number of companies renewing has increased with the government providing concession in the renewal fees to the companies that had not renewed for long time. Finance Minister Janardan Sharma, through the Budget Replacement Bill 2021, had announced that the companies could apply for renewal till January 14, 2022 by paying 5 percent of the penalty.

The government had announced to write off the remaining charges and fine if the companies are not renewing and submitting their annual particulars till the fiscal year 2018/19 deposited and 5 percent amount of the fees until January 14, 2022. The government had provided this concession in accordance with the Company Act, 2063 BS and the Private Registration Act, 2014 BS, the Company Registrar's Office stated.

Registrar at the office, Pradeep Raj Adhikari, said that the companies registered in 2020 BS have come for renewal in discount offer. He shared that a remarkable number of companies have come for renewal after offered discount to renew company. Around 150 applications are filed on a daily basis for the registration of new companies as well as for renewal in recent period.


companies renewed registration concession provision Finance Minister Janardan Sharma Replacement Bill 2021 Company Registrar's Office
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