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Freezing Bank Accounts Of Businesspersons And Industrialists
By KTM Metro Reporter
January 13, 2012: the ministry of finance has frozen the bank accounts of thousands of businesspersons, industrialists, superstore owners, producers of beer and other alcoholic drinks for not submitting the Value Added Tax (VAT) collected from the consumers. Billions of rupees worth of VAT have remained with these corrupt guys, ‘gorkhapatra’ of today writes.
Consumers pay VAT at the time of buying any goods or services but companies and other service providers have not submitted the VAT to the government for the last 10 years. Number of such companies and businesspersons exceeds one thousand.
In addition, these unscrupulous guys have submitted fake VAT bills in order to evade paying the actual amount of VAT collected from the customers. Such is a heinous crime the business and industrial community has been committing.
The recent news has it that a branch of FNCCI in Biratnagar has been involved in assisting some companies and businesspersons in submitting fake VAT bills and evading paying the real VAT amount some companies and businesspersons had collected from customers.
So far, Nepalis have had the impression of that the politicians are the most corrupt people in Nepal but the revelation of the business and industrial community not submitting the VAT amount collected from the customers shows that the business community and industrialists are one step ahead of the politicians in the corruption scale.
Shame on the business community and the industrialists that have failed in submitting the VAT amount they have collected from the customers. No crime is so serious than not submitting the amount of VAT they had collected to the government.
