Skip to main content

Extension of due date for submission of Taxes and Tax Returns including administrative appeal

Given the lockdown due to Covid-19, the Nepal government through the Honorable minister-level decision has extended the period of submission of tax returns and applicable to Jestha 25, 2077 (i.e. 7th June 2020). 

Here's the applicable list for the same:

1) Monthly, Bi-monthly, and quarterly VAT returns for the month of Falgun and Chaitra along with the payment of VAT.

2)  Application of refund of VAT for Sec 25D provided the due date for application falls under the lockdown period.

3) Monthly Excise returns for the month of Falgun and Chaitra along with the payment of excise tax.

4) Withholding Taxes (TDS) for Falgun and Chaitra

5) Amended Estimated Tax Return for FY 2076/77 including 2nd installment Advance Tax originally required to be submitted by Chaitra end. This can be submitted by Jestha end, unlike others which have Jestha 25, 2077 as the deadline.

6) Education Service Fee, Telephone Ownership Fee, and Telecommunication Service Fee.

In addition, Nepal Government has also allowed an application for administrative appeal, in case of dispute over the tax assessment carried out by the tax officer, within 15 days of the opening of the lockdown. This is applicable for all VAT, Income Tax, and Excise Tax.

Here's the notice published by the Inland Revenue Department on their website.




Labels:
Location: Kathmandu 44600, Nepal

Comments

Post a Comment

Most Viewed

Tax Collection Agency codes for IRD Offices all over Nepal

Inland Revenue Department Nepal has published the agency codes that shall be used for the collection of direct and indirect taxes for the general public's information. Each code consists of 9 numbers. There are in total 59 agency codes currently in use. From these codes, we can classify that there are four types of IRD offices currently in operation. 1) Inland Revenue Office 2) Tax Payer Service Office 3) Large Tax Payer Service Office, and 4) Medium Tax Payer Service Office When shall you use these codes? It shall be used while choosing the agency where the tax should be deposited while completing the form for depositing the taxes. Agency Code list below: S.N. Agency Code Name Address 1 305011620 Inland Revenue Office Lahan 2 305030201 Tax Payer Service office Phidim 3 305030301 Tax Payer Service office Illam 4 305030401 Tax Payer Service office Khandbari 5 305030601 ...
1 comment
Read more

Process of Obtaining Tax Clearance Certificate in Nepal?

A tax clearance certificate confirms that an individual or entity: is in compliance with the Nepalese Income Tax Act, 2058 and its regulations, has submitted the tax return, audit report and necessary schedules, and all the taxes have been duly paid to the Government of Nepal Who issues Tax Clearance Certificate? The Inland Revenue Department (IRD) is authorized to obtain tax clearance certificate on behalf of the Ministry of Finance, Government of Nepal. How do I apply? An application must be filed at the concerned Tax Payer's office with NRs 10 stamp with the following documents enclosed: 1) Entity: Copy of the payment of taxes per Self Assessment submitted to IRD. Copy of the Audit Report duly audited by the member of the Institute of Chartered Accountants of Nepal (ICAN). Copy of the Previous Year Income Tax Return and Copy of Tax Clearance Certificate Obtained if any. Copy of the Permanent Account Number (PAN) Certificate. 2) Individual: In the c...
9 comments
Read more

Public Notice clarifying the provision of 50% deposit of the VAT amount directly into Inland Revenue Department Account

Inland Revenue Department has issued a public notice to clarify the provisions regarding the deposit of 50% of the VAT Payable to Vendor directly to the Revenue Account of Nepal Government. Provision was introduced by the Finance Ordinance 2076 which has become effective since 2076/02/15 i.e. 29 May 2019. According to the circular: Provision is applicable for all contracts or supply of goods & services made to the Nepal Government or entities that are fully or partially owned by Nepal Government. Whenever the payment is made to the contractor or supplier or consultant, Nepal Government or entity owned by Nepal Government (fully or partially) must deduct the 50% of the VAT amount and deposit it to the following revenue code: Consultancy and Contract: 33114 Suppliers other than contract: 33113 The concerned entity must notify the consultant or contractor or supplier, once the deposit is made to the above revenue code. The amount for each consultant, contractor and supplie...
3 comments
Read more