Govt honours top taxpayers for FY 2023/24

By A Staff Reporter,Kathmandu, Nov. 18: The government has honoured outstanding taxpayers for the fiscal year 2023/24. 

On the occasion of National Tax Day 2082, the Internal Revenue Department (IRD) recognised the 'best taxpayers' from various sectors who paid the highest taxes in the fiscal year 2023/24.

Finance Minister Rameshore Prasad Khanal honoured the highest taxpayers amidst a function on Monday.

Nepal Telecommunication Company Limited was honoured as the highest taxpayer in the institutions category.

Similarly, the government honoured Raj Bahadur Shah as the highest individual income taxpayer of the last fiscal year.

Likewise, Third Eye International was recognised for paying the highest income tax among single firms.

Dabur Nepal was honoured as the best taxpayer in the goods export business category, Verisk Nepal Private Limited in the information technology service export category, and Poshak Breeder Farm in the agriculture and livestock category.

Similarly, Nepal Investment Mega Bank was recognised as the company that paid the highest income tax among banks, financial institutions, and insurance businesses.

Nobel Medical College and Teaching Hospital has been honoured as the best taxpayer under the health and educational institutions category, Soaltee Hotel Limited under tourism business category and Bhatbhateni Super Market and Departmental Store under goods trading companies category.

The CDS and Clearing Limited has been honoured as the best taxpayer among companies with an annual turnover of Rs. 500 million to Rs. 1 billion. 

The IRD has honoured the IME Limited as the highest taxpayer under the remittance and money transfer companies and Bhotekoshi Power Company under the energy industries category.

According to the Department, Nepal Doorsanchar Company has been honoured among the taxpayers that have shown regular tax participation by submitting their documents and taxes on time during the period from mid-July 2019 to mid-July 2025.

VF Services was honoured as the highest taxpayer among companies with an annual turnover of up to Rs. 500 million, while Unilever Nepal Limited was recognised as the highest taxpayer in the special industry category.

FM Khanal calls for expanding tax base 

On the occasion, Finance Minister Khanal said that, in accordance with the spirit, objectives, essence, and message of the Gen Z Movement, public bodies, employees, society, and the private sector should correct their mistakes and weaknesses, and uphold ethics, morality, good governance, and accountability.

In addition, he clarified the need to increase revenue contributions to achieve economic growth and sustainable economic development by expanding the tax base and ensuring equitable distribution of the benefits received.

He emphasised the need to increase the use of modern systems to deliver tax administration services to citizens’ homes and to expand systems that reduce taxpayers’ costs and create an environment where business can be conducted at low cost.

Minister Khanal said that the government is fully committed to strengthening the sense of security, including the security of the private sector.He also said that structural reforms have been implemented in the Ministry of Finance to ensure predictable policies and policy stability, making Nepal an attractive international investment destination.

On the occasion, the Finance Minister launched a system through which natural persons with an income of up to Rs. 4,000,000 and single employees can obtain an online tax clearance certificate with a QR code, along with a personal permanent account number linked to their national identity card.

Finance Secretary Ghanshyam Upadhyay directed employees to coordinate with private-sector umbrella organisations to expand the revenue base, settle irregularities, collect revenue as per the target by reducing arrears, control revenue leakage, improve the information technology system, and provide revenue services through paperless and faceless methods.

Representatives of private-sector umbrella organisations urged the government to foster friendly relations between the tax administration and the private sector, and to make taxpayer services simple, convenient, and closer to the people through stable tax policies, a broad tax base, and high use of technology.

Director General of the Internal Revenue Department, Madan Dahal, said that most tax-related services will be provided through the local level in line with the concept of decentralisation, to deliver taxpayer services more simply, conveniently, and closer to citizens through the use of modern systems, ensuring good governance by upholding integrity in tax administration.