NTC (Nepal Telecom) has received the honor of being the highest tax-paying company in Nepal for 2076/77. Meanwhile, others such as Dabur Nepal, Asian Paints among others also received honors for their tax contribution.
The state telco received its honor on the occasion of the 10th National Tax Day celebrated on Mangsir 1.
Dilliram Adhikari, MD of NTC received the Certificate of Appreciation on the behalf of the company by Finance Minister Janardan Sharma. The ceremony was organized by the Inland Revenue Department.
NTC has recently increased its revenues and profits too. In the Q1 of the ongoing Fiscal Year 078/79, NTC collected around 11 Arab. Meanwhile, the company profited 2 Arab, 25 crores, 26 lakh, and 13 thousand (Rs.2,25,26,13,000) during the same period.
This was an increase of 73 crores, 49 lakh, 12 thousand, 9 hundred, and 31. (Rs.73,49,12,931) from the Q1 quarter of the previous Fiscal Year.
Other Recipients of The Honors At The 10th National Tax Day Ceremony
Besides NTC, many other companies received honors for their tax contribution. Among the import industries, Dabur Nepal claimed its appreciation for its tax contribution. Shasiranjan Mishra received the Certificate of Appreciation on behalf of the company.
Similarly, Gopal Shrestha, The Chairperson of Asian Paints, claimed honors in Special Industry. Meanwhile, Purbanchal Agro Tech received the honor of being the highest tax-paying company among the Agro-based Industries.
Among the co-operatives, Chhimeki Laghuvittiya Sanstha, and Nabil Bank among the Commercial Banks, received their Certificate of Appreciation at the 10th National Tax Day ceremony. Ganesh Ghimire and Anil Keshari Shah received appreciation on behalf of their companies respectively.
From the service sectors, Nobel Hospital and Taragaun Regency received recognition for the highest tax contribution in their categories. Bhatbhateni, the retail chain was also among the recipients of the honors at the ceremony.
Among the individual taxpayers, Siddhartha Rana received the honor as the highest taxpayer. Mr. Rana is the Chair for Tata Motors’ official distribution in Nepal, Sipradi Trading.
Surya Nepal Contributed Highest VAT Tax | 10th National Tax Day
Surya Nepal received its appreciation for being the highest VAT Tax and income tax-paying company. Ravi KC, the company’s Senior Vice President received the appreciation on behalf of the tobacco manufacturing company.
Nepal Reinsurance Company limited received its appreciation as the highest tax-paying insurance firm.
Similarly, Ghorahi Cement was recognized for its discipline in tax payment.
Do you think the large companies in Nepal should be paying higher taxes than they are currently mandated to? And what do you think about the tax obligation for the Small and Medium Enterprises (SMEs)? Do leave your valuable opinions in the comments below.