VDIS deadline extended by a month
The government has extended the deadline of Voluntary Declaration of
Income Scheme (VDIS) by a month on Wednesday.
The decision to extend the VDIS deadline came following discussion between
the Finance Ministry officials and the representatives of the business
community. Finance Minister Dr Baburam Bhattarai also participated in the
discussion with the businessmen.
Earlier today, a delegation of Federation of Federation of Nepalese Chambers of Commerce and Industry (FNCCI), Confederation of Nepalese Industries (CNI) and Nepal Chamber of Commerce (NCC) met Prime Minister
Pushpa Kamal Dahal and requested him to extend the VDIS deadline to April
11. The deadline would expire today.
The scheme got overwhelming response from taxpayers only in the final four
days. On Tuesday, Rs 200 million was deposited in the government exchequer
under the scheme. The government aims to collect Rs 1 billion through the
VDIS.
The Income Tax Act allows the government to slap tax defaulters a penalty
up to 100 percent apart from seizing their property.
The Inland Revenue Department (IRD) has stated some 10,000 prospective taxpayers have
been identified after investigations. nepalnews.com mk Feb 011 09
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