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Ntc becomes the highest income-tax paying public company for FY 2078/79

Dinesh by Dinesh
May 30, 2023
in Nepal Telecom, Telco News
Reading Time: 2 mins read
Nepal Telecom Ntc office

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 2078/79Income tax contributed
Nepal Telecom (Nepal Doorsanchar Company Limited)4,68,43,00,000
Rastriya Banijya Bank1,79,40,00,000
Krishi Bikas Bank Limited1,43,64,00,000
Nikshep Karja Surakshan Kosh1,02,10,00,000
Ntc was the highest income tax paying public company in FY 2078/79 BS

Also read: Ntc 4G Coverage Reaches 98 Percent in Local Levels, Over 96 Percent Sites On-aired

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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Dinesh

Dinesh

An experienced tech writer covering news mostly on telecommunication, internet, latest tech & trends, and Gadgets. Being a technophile, I am particularly fascinated by the evolution of mobile networks in Nepal from legacy networks (2G, 3G) to 4G (with VoLTE, VoWiFi, eSIM) and the prospects of the upcoming 5G, and equally enthralled by the development of internet from the dial-up connection to the 2 Gbps XGS-PON fiber broadband technology and their transformative impact in the country.

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