IRD drive to ensure effective billing system ahead of Dashain

KATHMANDU, SEP 30 -

The Inland Revenue Department (IRD), in coordination with the Forum for Protection of Consumer Rights Nepal, is conducting an “intensive market monitoring ” starting from Monday for 10 days, aiming at making the billing system effective. As more transactions take place before the Dashain festival, the IRD decided to intensify monitoring so that more value added tax (VAT) could be collected.

The IRD plans to monitor over 20,000 traders, up from over 15,000 monitored last year. “As billing is the main source of VAT collection, revenue is leaked when the billing system is not enforced,” said Tanka Mani Sharma, director general of the IRD. “In this context, awareness among customers will compel entrepreneurs to issue bills.”

The IRD said that the special market monitoring works will be undertaken in the Kathmandu valley, including major markets across the country. The 10-day campaign aims to create consumer awareness on the billing system. More than 300 individuals will be deployed in the market for this purpose, the IRD said.

“As market transactions pick up significantly during the festive season, the campaign objective is to keep a close watch on the markets and shops as to whether they abide with the billing system or not,” Sharma said.

He said that this campaign would be concentrated, not only on enforcing billing systems, but also to collect information about the traders who failed to issue bills. “Those not issuing bills will be brought under investigation of the IRD in the next phase,” he added. The Inland Revenue Office and the Tax Payer Service Office will be assigned the monitoring works.

Jyoti Baniya, general secretary of the forum, said there has been nominal use of the billing system in the market, and such a campaign could make a big difference to educate the public on the proper billing system.

Baniya said that the forum would deploy around 55 individuals in the campaign. He added that consumers’ rights are protected if they receive bills of their goods purchased.

Source: The Kathmandu Post