VDIS scheme gets sunny response

As deadline closes near for 'huge earners' to declare their total assets, number of people declaring their income continue to increase sharply, though major business groups have asked the government to extend the deadline.

On Tuesday, the department of revenue generated around Rs 200 million in revenue from Voluntary Declaration of Income Scheme (VDIS) of income of over Rs 2 billion. Until Monday, the department had collected only Rs 150 million from the scheme.

Department of revenue said 406 individuals have declared their total income on Tuesday. So far, more than 750 individuals have submitted their income details. The department said it expects large number of individuals declaring their assets by Wednesday.

The government during the budget speech had set February 11 as the deadline to declare total earnings by individuals with facilities to turn black money to white upon paying 10 percent of the total assets. nepalnews.com ia Feb 10 09

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