Government to act tough against ‘tax invaders’ after January 15

Government to act tough against ‘tax invaders’ after January 15

Finance Minister Shankar Prasad Koirala today vowed that the government is not going to extend the deadline to clear outstanding tax dues due to mismatch. "The government will move ahead according to law of land," he said, adding that the deadline has that has been extended by a month till mid-January – on traders request is coming to an end and would not be extended this time. According to government's offer, the taxpayers would get rebate, if they clear outstanding dues within January 15. Those failing to clear dues by January 15 will face the music, he said addressing an interaction with regulatory bodies, here today. Stressing the need for mutual cooperation, coordination and collaboration among tax payers, regulatory agencies and revenue administration to boost revenue mobilisation, he said that the taxpayers ability also has to be enhanced. "Strong regulatory authority would support to strengthen government." Finance secretary Shanta Raj Subedi, on the occasion, showed serious concern over low involvement in tax net. "Only a few professionals have come under the tax net as only around 15,000 professionals are paying taxes – far below the government's expectation of 50,000," he said, adding that the government will launch aggressive campaign to recover outstanding dues from tax defaulters after mid-January. "Likewise, only around 100 media and journalist have come under tax net, which is also serious." The private sector asked for incentives, but did not respond it as it should have been after the government brought the scheme, Subedi added. The regulatory authorities should be stronger, said chief of Revenue Administration Division at the Ministry of Finance (MoF) Rajan Khanal, on the occasion. He also asked regulator to be alert as they can help government mobilise revenue. “Around 33 per cent of business firms are operating without registering with the regulatory authorities,” informed director general of the Inland Revenue Department (IRD) Tanka Mani Sharma, expressing concern over the growing tendency of not registering and renewing firms. The Federation of Nepalese Chambers of Commerce and Industry (FNCCI) is encouraging businesses to take advantage from the government offer, said vice president of FNCCI Pashupati Murarka.
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