Chaudhary Group Pays 788 Crores Tax

Chaudhary Group Paid 788 Crores Tax

Nov. 20, 2017, 4:04 p.m.

Chaudhary Group paid 788 crores which is a whooping jump of 40%. in the fiscal year 2073/74. “In order to apprise the people of Nepal our contribution to the national coffer, we have compiled data for the fiscal years 2072/73 and 2073/74. Our total contribution of taxes (Custom duty, Excise duty, VAT, Education Cess, Dividend tax and Income tax) in the year 2072/73 stood at 559.97 crores which was 1.48% of the taxes collected by Nepal government,” said a pess release issued by Chaudhary Group.

“This also accounts for 1.59% of the taxes collected by the Nepal government, which is also an increase in our contribution to the national exchequer by 10.74% over earlier year.

“The shareholders of Chaudhary Group get their earnings and in doing so the companies pay taxes and they also issue dividends, which is paid post deduction of the dividend tax,” said a press release issued by Chaudhary Group.

That’s what is the earnings of the shareholders/ directors and that’s why it is not reflected in the category of individual taxpayers. We are taking the opportunity to convey this message to the people of Nepal who care to know about our contribution to the national coffer

When the country is celebrating the National Tax Day, Chaudhary Group is happy to extend its congratulations to all top taxpayers recognized and honored by the government. Such recognitions motivate taxpayers to contribute to the national economy and integrate them in development process of the nation.

Chaudhary Group said probably due to some technicalities, the concerned government department seems to have missed a category i.e. the taxpayer as a corporate conglomerate. We take lot of pride for our contributions in building a strong corporate structure, comprising of companies which are professionally run and transparent. In remaining so, we consider this as our duty and responsibility as a responsible Corporate Group to volunteer to share the information with regard to the overall contributions of various taxes (direct and indirect) to the national economy by our Group companies including affiliates.

Chaudhary Group would continue to put its efforts in increasing its contribution to national economy in the coming years. 

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