Even though people are reeling under financial hardships caused by the coronavirus pandemic, the Nepali Government has further escalated the burden as it turned stringent to the taxpayers.<\/p>\n
Lately, the Nepali Inland Revenue Department (IRD) has issued a public notice urging taxpayers to clear tax dues by June 7, 2020.<\/p>\n
As per the notice, the business entities are supposed to clear Value Added Tax (VAT) dues between November 2019 and March 2020 within the stipulated date.<\/p>\n
The taxpayers should pay the excise duty and income tax of February \u2013 April 2020 within the prescribed date. Similarly, education service charges and telephone tariffs should be cleared.<\/p>\n
\u201cAny taxpayer failing to clear the taxes and fees within the date will face delay charges and cash penalty,\u201d stated IRD.<\/p><\/blockquote>\n
The Nepali Government has refused to extend the tax clearance deadline beyond June 7 as it is reeling under high pressure to manage even the recurrent expenditure.<\/p>\n
The government has failed drastically to reach the revenue collection target this fiscal due to the ongoing COVID-19 crisis.<\/p>\n
As of June 1, 2020, the government has collected just 56% of the revenue target of NPR 1.11 trillion for the current FY 2019\/20.<\/p>\n