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

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

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

Nepal Accounting Standard (NAS) for Not for Profit Organizations (NGOs and INGOs) 2018 - Basics

Effective Date: Nepal Accounting Standard Board has published an Accounting Standard for Not for Profit Organizations in November 2019 effective Fiscal Year 2077/78 (July 16 2020, and onwards). Any organization adopting it to prior to the date above shall disclose the fact. Applicable Organization: NAS is applicable to all not for profit organization registered with the Social Welfare Council or working in Nepal under a general agreement, or project offices working under the bilateral agreement with Nepal Government and Foreign Government Purpose: Guide Not for Profit Organizations to prepare the general purpose financial statement to the entire non-profit organization as a single reporting entity . Improve the quality of the data to provide adequate information to the users of the financial statements Reduce the diversity that exists among NPOs in accounting practice and presentation We should note that NAS is based on the Going Concern assumption and the concep...
1 comment
Read more