Businessmen, entrepreneurs and industrialists on Tuesday have requested the government to extend the deadline of the Voluntary Disclosure of Income Source (VDIS) scheme for further three months.
They made the request at an interaction organized by the Federation of Nepalese Chamber of Commerce and Industry (FNCCI), the Industrial Council and the Confederation of Nepalese Industries (CNI) in the capital to discuss on the VDIS.
Kush Kumar Joshi, president of the FNCCI urged the need of additional time to improve its procedures regarding the VDIS.
Nepal Chamber of Commerce (NCC) Chairman Surendra Bir Malakar warned to initiate a united struggle if the government does not extend the deadline.
They have been demanding to address technical errors of the VDIS and to announce immovable property in its original cost, among others.
On the other hand, the government has been saying that the deadline fixed till February 11 for the VDIS scheme is sufficient.
“Those who do not disclose property and pay 10 percent tax within time will have to face strict action from the government," said acting revenue secretary, Krishna Hari Baskota at the Ministry of Finance. He added that the government will initiate investigation of people not submitting tax by February 12.
The deadline for the VDIS is fixed for tomorrow.
Meanwhile, a report said that the government has collected Rs. 200 million under the VDIS scheme till Tuesday. The government has targeted to collect up to Rs. 1 billion from the scheme. The same scheme during 2001 has failed to collect the targeted tax amount.
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