The Inland Revenue Department ( IRD ) is scheduled to organise “Tax Fair” in Kathmandu possibly in the last week of December with an aim of bringing additional taxpayers into the tax net.
The tax authority will add new taxpayers and disseminate information about taxation to the general public during the event. However, the biggest focus of the fair will be on increasing the number of rental tax payers. “We will encourage them to pay rental tax at first and announce tough measures against those who ignore the provision,” said IRD Director General Tankamani Sharma.
According to IRD estimation, there are 250,000 households in the Kathmandu valley that should pay the rental tax, but only a few of them are paying the duty. The government has targeted to raise Rs 2.31 billion in rental revenue this fiscal year. Sharma said the IRD was on track on meeting the target.
Besides the households, the IRD has also been struggling to bring professionals into the tax bracket. Recently, the tax authority sent letters in the names of professionals not registered with the tax authority.
While the number of practicing lawyers is estimated to be more than 10,000, only 1,000 have taken permanent account numbers (PAN). And, only 100 law firms have registered at the value added tax (VAT), say IRD officials.
However, the number of doctors, auditors and engineers with PAN are relatively higher. As of the last fiscal year, a total of 2,500 engineers have taken PAN, while the number of doctors, auditors with PAN stands at 7,600 and 7,000, respectively, according to the IRD . The IRD has given those not yet registered with the tax regime mid-January 2014 deadline to do so.
Sharma said efforts to bring brick-makers into tax net have yielded positive results. “Now, a majority of big brick-makers have registered with the tax authority,” said Sharma.
In the last fiscal year, 15,817 new taxpayers were added, against the target of 10,000. Those taking permanent account number (PAN) also increased by 81,336, according to the IRD
source: the kathmandu post,1 Nov 2013
LINK
The tax authority will add new taxpayers and disseminate information about taxation to the general public during the event. However, the biggest focus of the fair will be on increasing the number of rental tax payers. “We will encourage them to pay rental tax at first and announce tough measures against those who ignore the provision,” said IRD Director General Tankamani Sharma.
According to IRD estimation, there are 250,000 households in the Kathmandu valley that should pay the rental tax, but only a few of them are paying the duty. The government has targeted to raise Rs 2.31 billion in rental revenue this fiscal year. Sharma said the IRD was on track on meeting the target.
Besides the households, the IRD has also been struggling to bring professionals into the tax bracket. Recently, the tax authority sent letters in the names of professionals not registered with the tax authority.
While the number of practicing lawyers is estimated to be more than 10,000, only 1,000 have taken permanent account numbers (PAN). And, only 100 law firms have registered at the value added tax (VAT), say IRD officials.
However, the number of doctors, auditors and engineers with PAN are relatively higher. As of the last fiscal year, a total of 2,500 engineers have taken PAN, while the number of doctors, auditors with PAN stands at 7,600 and 7,000, respectively, according to the IRD . The IRD has given those not yet registered with the tax regime mid-January 2014 deadline to do so.
Sharma said efforts to bring brick-makers into tax net have yielded positive results. “Now, a majority of big brick-makers have registered with the tax authority,” said Sharma.
In the last fiscal year, 15,817 new taxpayers were added, against the target of 10,000. Those taking permanent account number (PAN) also increased by 81,336, according to the IRD
source: the kathmandu post,1 Nov 2013
LINK
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