Request not to impose penalty on those who fail to pay tax during the prohibitory order

KATHMANDU: JUNE 9 – Three representative organizations of the private sector have jointly urged not to impose taxes during the prohibitory order. The Federation of Nepalese Chambers of Commerce and Industry, Confederation of Nepalese Industries and Nepal Chamber of Commerce issued a joint statement on Wednesday.

“Improvements to the economy seen since the second quarter of the current fiscal year have been hampered by the second wave of COVID-19,” the statement said. The stagnation of economic activity has had a serious impact on the economy.

Enterprises have come to a standstill due to the prohibitory order imposed to prevent the second wave and it is estimated that about 70 percent of enterprises across the country have been affected at this time.

He also said that there is no way to collect money from the market by selling the products. “Due to the current dire situation, on the one hand, the industry and business have not been able to operate and on the other hand, the products of the existing industries have not been able to reach the market without any hindrance. Therefore, it is not possible to remit the details including value added tax, excise duty and tax amount to be paid monthly even when the traffic is blocked due to the prohibitory order. We request the government not to impose any kind of penalty on the entrepreneurs who have not been able to pay tax revenue even considering this dire situation. ‘

They have also urged the government to assist the government by fulfilling its obligation by paying the revenue to the entrepreneurs who are in business operation and can repay the revenue in the same manner as last year.