Revenue dept freezes firm accounts
Useful Links
» A new way to read online, exact replica of your daily and magazine
» For all you tweety fans out there!
» Allows you to find only those news from any date you choose!
» Search any news/ articles by author/ category/ date/ keyword
KATHMANDU, APR 12 - The Inland Revenue Office (IRO) has frozen the bank accounts of two firms, Vinayak Kashmiri Industries and Sonam Photo, for falling behind in paying value added tax (VAT) worth around Rs. 9 million.
Vinayak and Sonam Photo owe Rs. 7 million and Rs. 2 million respectively in back-logged taxes, said an IRO official.
Vinayak proprietor Rupali Kumari Tulasyan has not paid taxes for more than two years while Sonam proprietor Sawar Mal Goyal has not done so for the last year despite repeated reminders by the IRO, the official added.
Vinayak manufactures carpets while Sonam deals in electronic products.
“Both firms have not come forward to pay their taxes after an IRO assessment found that they had been paying less VAT than required,” said the official. Two other firms paid their outstanding dues this year after the IRO froze their bank accounts, added the official.
“The action against these two firms is just the beginning,” said Laxman Bahadur Basnet, collection department chief of the IRO. “We will be tougher with other firms too that fail to pay their dues on time.”
He added that the proprietors of Vinayak and Sonam would face additional action from the IRO if they still refused to pay their taxes.
The IRO is yet to collect outstanding taxes worth Rs. 900 million dating to five decades back from several taxpayers.
Earlier, the IRO had called taxpayers to pay their dues by mid-February. The government had also formed a committee in February headed by former secretary Narayan Prasad Silwal to recommend ways to collect back taxes. It has already submitted its report to the Finance Ministry.
Posted on: 2010-04-12 08:44
Post Your Comment