Nepal Telecom (NTC) also called Nepal Doorsanchar Company Ltd. has been awarded by the government of Nepal for being the top income tax-paying company in Fiscal Year FY 2079/80 in Nepal. The communication giant was honored along with others in 16 different categories at an event held on Mangsir 07 (November 23) in Kathmandu. Honorable Finance Minister Dr. Prakash Sharan Mahat conferred with the company during a week-long celebration of the National Tax Day 2080 program conducted with the slogan “Clean, transparent and technology-friendly tax administration – social justice, economic prosperity, and good governance”.
Nepal Telecom’s MD Mrs. Sangita Pahadi received the certificate, on the company’s behalf for being the highest income tax paying company for the FY 2079/80 amidst a program in the capital.
Every year, the Inland Revenue Department (IRD) recognizes the country’s top taxpaying entities. This time, the department honored a total of 16 companies for filing the highest contribution in taxes.
Highest tax-paying companies in FY 2080/81 with categories:
Here are the highest taxpaying companies honored by the government in their respective categories:
|Nepal Telecom (Nepal Doorsanchar Company Ltd.)
|Highest income taxpayer
|Dabur Nepal Pvt. Ltd.
|OBC Foods Pvt. Ltd.
|Agriculture and livestock
|Cooperative and microfinance
|Global IME Bank
|Bank and Financial Institution
|Life Insurance Corporation
|Nobel Medical College Teaching Hospital
|Health and Education
|Manokamana Darshan Pvt. Ltd.
|Nepal Stock Exchange (NEPSE)
|Bhotekoshi Power company
In Fiscal Year 2079-80, the government collected a total tax of Rs 9.57 trillion. Out of the total, the IRD was responsible for collecting Rs 4.79 trillion in revenue.
NTC, the government-backed communication company, has been one of the most profitable government enterprises and one of Nepal’s largest companies. Likewise, the company is consistently a prominent tax contributor to the government. The company earned over Rs 7.80 billion in profit in FY 2079/80 and saw its revenue increase to over Rs 45 billion. The company has also posted its profitable first-quarter results for FY 2080/81.
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