Share investors allowed to pay tax on cost price

The government has decided to allow share investors to pay tax under Voluntary Disclosure of Income Scheme (VDIS) as per the amount they invested while purchasing the share, according to media reports.

The government came up with decision by revising its earlier provision that they should pay tax as per the share price on July 16 last year. The share marker investors are now liable to pay tax by 10 percent of share property at the cost price in case such property was gained without paying tax until mid-July 2007.

According to the Inland Revenue Department (IRD), the new provision has been introduced considering the continuous downward spiral in the share prices. The IRD has also reportedly informed all share investors and business community about the share related change effected in the VDIS provision.nepalnews.com Feb 6 09

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