Fiscal Nepal
First Business News Portal in English from Nepal
KATHMANDU: The Revenue Investigation Department has accused shareholders and directors of Nepal Can Move Pvt. Ltd., based in Threekune, Kathmandu Metropolitan City-32, of colluding to evade taxes worth Rs 68.44 crore through servers hosted in Australia. The department filed a case against key figures—Sudeep Acharya, Jeevan Gywali, Gangabahadur Thapa, Manishprasad Acharya, Mithu Poudel, and Deputy Executive Director Sangam Poudel—at the Patan High Court, seeking recovery of Rs 1.36 billion, including a 100% penalty and interest.
Department Spokesperson and Deputy Director General Krishna Kumari Shrestha revealed that the company, operating a cargo and courier business, launched the NCM portal in 2076/77 (2019/20) but hid sales by hosting its server in Australia to evade Nepal’s tax administration. An unannounced inspection uncovered critical documents, including trial balances from 2076/77 to 2081/82 (2019/20 to 2024/25), confirming the tax evasion. The company allegedly manipulated billing manually to conceal actual sales, evading VAT and income tax.
Sudeep Acharya (55.33% shareholder) and Jeevan Gywali (16% shareholder) have remained absconding despite repeated summons, the department noted. The accused are charged under the Revenue Leakage (Investigation and Control) Act, 2052, with Sangam Poudel facing half the penalty as an accomplice. The department demands Rs 1.36 billion in fines and imprisonment, citing violations under Sections 3, 4(a), 4(c), and 4(jh) of the Act, alongside compensation under the Victims of Crime Protection Act, 2075. The case highlights a sophisticated tax evasion scheme, prompting calls for stricter oversight.
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