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Govt felicitates highest taxpayers

Govt felicitates highest taxpayers

The government has honoured the highest taxpayers of the country under different categories on the occasion of the eighth National Tax Day today.

The highest taxpayers were honoured also to promote the taxpaying culture. Finance Minister Yubaraj Khatiwada honoured the top companies in 15 categories amidst a programme organised by Inland Revenue Department.

IRD has classified the highest taxpayers as per individual, industry, agriculture, financial sector, insurance, tourism and trade categories, among others.

Among the companies, Surya Nepal was announced the highest taxpayer. Surya Nepal has been a top taxpayer thrice in the past as well. Similarly, Siddhartha Sumsher Rana was the top taxpayer under the individual category. Rana is involved in hotel, trading and travel sectors. He has been honoured continuously for the last six years as the top individual taxpayer.

Likewise, Dabur Nepal was honoured for being the highest exporter and Jagdamba Steel Industries for paying the highest taxes from among firms not selling tobacco or alcohol products. Among cooperatives, Chhimek Laghubittiya Bittiya Sanstha bagged the highest taxpayer award while Kamana Sewa Bikash Bank and Rastriya Banijya Bank were honoured among development and commercial banks, respectively. Similarly, Nepal Life Insurance Company was felicitated among the insurance companies.

In the Information and Technology sector, WorldLink Communication was the highest taxpayer and Taragaon Regency Hotel was honoured in the tourism sector. Other companies to be felicitated were Annapurna Agro International, Manipal College of Medical Sciences, Agni Incorporate, VS Services and Ghorahi Cement Industry.

However, IRD has not divulged the amount paid by the companies or individuals who have been felicitated as the
highest taxpayers.

Meanwhile, IRD also awarded the 10 best employees on the occasion for their performance.

Speaking on the occasion, Khatiwada said that the government is committed to creating a conducive investment environment for private sector growth. “There are some challenges for industrialists and entrepreneurs due to tax in the new federal system. We are planning to introduce a new tax system to make it better.”

Khatiwada further said he was aware that he was unpopular among the business fraternity for expanding the range of taxation, but he clarified that such confusions were natural in the current transitional phase. “We have a responsibility to increase domestic revenue collection system massively. Otherwise, the country would need loans from other countries, which could be harmful to the country’s economy in the long run.”