Tuesday Oct 4, 2022
Tuesday Oct 4, 2022

Private sector bodies urge those capable to pay taxes on time

2021 Jun 09, 20:14, Kathmandu
This undated image shows the office of the Inland Revenue Department . Photo courtesy: IRD

Three umbrella organisations of the private sector have urged those industries and businesses that are capable to pay their taxes on time. The Federation of Nepalese Chambers of Commerce and Industry, Confederation of Nepalese Industries and Nepal Chamber of Commerce issued a joint statement today requesting those capable to pay taxes on time.

The private sector has said that the second wave of the coronavirus has impacted the joint efforts for economic recovery and that if the situation prevails for a longer time then it will affect the government’s revenue collection target for the next fiscal year.

The joint statement has also mentioned that the economy was able to recover a bit in the last one-and-a-half years during the COVID-19 pandemic due to the cooperation between the government and the private sector. It adds that the private sector believes that if the cooperation is maintained then the country can overcome both the health and economic crisis.

The private sector bodies have also said that since movement has been curtailed due to the prohibitory order it has become difficult for businesses to pay the various taxes that they need to. Hence, they have requested the government not to levy any penalty for such delays.

The private sector organisations have also requested the government to keep those businesses and employees of various companies that have a direct contribution to the economy on the priority list of the government’s vaccination campaign.


private sector industries and businesses tax pay Pay tax Federation of Nepalese Chambers of Commerce and Industry Confederation of Nepalese Industries CNI Nepal Chamber of Commerce NCC economic recovery
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