Sunday 26th September 2021

14 Nepali Firms Accused of Evading NPR 1.34 Billion in Taxes!

The revenue department has recovered NPR 1.22 billion from the accused firms.
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14 Nepali Firms Accused of Evading NPR 1.34 Billion in Taxes!

On January 10, the Department of Revenue Investigation (DRI) registered a case against 14 firms for evading government tax by using fake Value Added Tax (VAT) receipts.

According to the DRI, these firms have evaded NPR 1.34 billion in government taxes. However, the DRI has recovered NPR 1.22 billion from the proprietors of the accused firms.

Bibek Magar of New Sayapatri Enterprises, one of the main accused, has created 13 counterfeit firms to issue fake VAT receipts. He was accused of evading NPR 842.90 million in income tax, NPR 373.66 million in VAT, and NPR 5.44 million in capital gains tax.

 

Likewise, the DRI accused Subodh Sah, proprietor of Sankit General Suppliers, for selling fake VAT receipts to other firms. The department has recovered NPR 127.55 million from Sah, a resident of Balara Rural Municipality-2 in Sarlahi district.

Government of Nepal

Some other recent tax evasion cases include:

  • On December 24, 2020, the DRI filed a case against five firms for evading government tax worth NPR 199.6 million. Nawal Kishor Chaudhary, the proprietor of Kabila Suppliers Center, has been accused of embezzling NPR 21.43 million. Mukesh Prasad Chaudhary, the owner of Jay Shree Gautam Suppliers, has evaded tax worth NPR 53.21 million by using fake VAT bills.
  • On December 2, 2020, the DRI accused five firms, including Raut Trade Concerns and PRK Trade International, of evading tax worth NPR 410 million.
  • On July 15, 2020, the DRI accused six firms of evading taxes worth NPR 4.18 billion using fake VAT bills. Unique Wide International Pvt Limited, High Tech International, and JSS Mobile and Services Pvt Ltd are some of the main accused firms.

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