First Business News Portal in English from Nepal
KATHMANDU: The Federation of Computer Association Nepal (CAN Federation) has urged the government to ease the taxation system during this pandemic. Issuing a press statement today, the federation has requested the government to ease the taxation system as financial activities had been severely affected by the lockdown and prohibitory order.
“The government’s announcement to take action against firms that are unable to pay due taxes by today is not practical and is totally unjustifiable. All commercial activities have been halted since the last six months and no company has had any earning at present. Thus, it is not reasonable to make it mandatory to clear taxes now,” reads the statement.
Almost all companies are running at 15 to 25 per cent of their capacity and are facing massive losses. Although Nepal Rastra Bank had announced that the country’s economy might take at least nine months to revive, the current situation indicates that it might take at least two years, added the statement.
“Instead of easing the situation and helping the companies the government is putting undue pressure on commercial firms,” reads the statement, urging the government to facilitate information technology sector as it has been providing services even during this crisis and withdraw its decision of charging penalty if any firm fails to pay taxes.
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