Voluntary Declaration of Income Scheme (VDIS) deadline in Nepal:-

The government has extended the deadline of Voluntary Declaration of Income Scheme (VDIS) by a month on Wednesday.

The decision to extend the VDIS deadline came following discussion between the Finance Ministry officials and the representatives of the business community. Finance Minister Dr Baburam Bhattarai also participated in the discussion with the businessmen.

Federation of Nepalese Chamber of Commerce and Industries (FNCCI) ...

Earlier today, a delegation of Federation of Federation of Nepalese Chambers of Commerce and Industry (FNCCI), Confederation of Nepalese Industries (CNI) and Nepal Chamber of Commerce (NCC) met Prime Minister Pushpa Kamal Dahal and requested him to extend the VDIS deadline to April 11. The deadline would expire today.

The scheme got overwhelming response from taxpayers only in the final four days. On Tuesday, Rs 200 million was deposited in the government exchequer under the scheme. The government aims to collect Rs 1 billion through the VDIS.

The Income Tax Act allows the government to slap tax defaulters a penalty up to 100 percent apart from seizing their property. The Inland Revenue Department (IRD) has stated some 10,000 prospective taxpayers have been identified after investigations. nepalnews.com