June 4 : Bowing down to the widespread objections, the government has decided to extend the deadline for the payment of individual and business taxes by two weeks.
Issuing a notice on Wednesday (June 3), the Inland Revenue Department (IRD) said that the deadline to submit tax details, income details and payment of taxes has been extended to June 21. According to it, such extension was announced taking into account the current critical period triggered by the COVID-19 pandemic.
Earlier, the IRD had asked all individuals and business firms to clear the taxes by June 7.
As per the latest decision, businesses and individuals need to submit the second installment of income tax of the current fiscal year by June 29. Similarly, Value Added Tax (VAT) and excise duty shall be submitted by June 21.
Apart from the private sector bodies like the Federation of Nepalese Chambers of Commerce Industry (FNCCI) and Confederation of Nepalese Industries (CNI), had blasted the government for asking tax payment by overlooking the negative consequences the businesses have been facing for the last two- and- a -half months due to the pandemic.
