State-backed telecom company Ntc (Nepal Telecom or Nepal Doorsanchar Company Limited) was the largest income tax paying public company in Nepal in the fiscal year, FY 2078/79 BS.
As per the State Owned Enterprises Preliminary Evaluation report released by the Ministry of Finance, Ntc is shown to have contributed to the government with 5.59% in the assessment period. In the previous fiscal year 2077/78, the company’s tax contribution stood at 6.56%%.
With the latest figure, Ntc has become the company among the public enterprises to earn profit in 5 consecutive years.
The report shows that Ntc filed Rs 4 billion, 68 crores, and 43 lakh in income tax to the government for FY 2078/79. At second came, Rastriya Banijya Bank (RBB) which contributed Rs 1 billion, 79 crore, and 40 lakh. Ntc outranked RBB in tax payments by a whopping Rs 2 billion, 89 crores, and 3 lakh.
Next stood Krishi Bikas Bank Limited which contributed Rs 1 billion, 43 crores, and 64 lakh. Nikshep Karja Surakshan Kosh ranked 4th with Rs 1 billion, 2 crores, and 10 lakh.
|Highest tax paying company list FY 2078/79||Income tax contributed|
|Nepal Telecom (Nepal Doorsanchar Company Limited)||4,68,43,00,000|
|Rastriya Banijya Bank||1,79,40,00,000|
|Krishi Bikas Bank Limited||1,43,64,00,000|
|Nikshep Karja Surakshan Kosh||1,02,10,00,000|
Ntc also contributed with the dividend to the government
Likewise, during the evaluation period, the government generated Rs 2 billion, 74 crores, and 49 lakh in dividends from public enterprises. The report says that Nepal Telecom was the only company to file dividends among the government-owned enterprise. It accounted for 44.6% of the total dividends the government drew.
The government of Nepal receives dividends from its shares invested in public enterprises.
Likewise, the company saw its operating revenue increase by 5.52% in FY 2078/79. It came third in terms of generating the highest operating revenues among the public enterprises with Rs 37 billion, 91 crores, and 98 lakh.
The report also highlights that the company’s profit increased by Rs 1 billion in FY 2078/79. Find detail about the latest financial report by Ntc here.
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