Kathmandu. KATHMANDU: The government has launched an attractive gift program for consumers in order to make the internal revenue mobilization more systematic and effective.
The Ministry of Finance has issued the Taxpayer Incentive Gift Program Operation Procedure, 2083 BS to provide cash gifts to the consumers who compulsorily take the invoice while purchasing goods and services.
This procedure, formulated by using the powers of Financial Procedures and Financial Responsibility Act, 2076, aims to develop a culture of bill taking in the market and document the actual transactions. To participate in this program, consumers must have purchased goods or services worth at least Rs 100 for personal use within Nepal.
However, purchases made for business purpose, bills of government agencies, telephone, electricity, vehicle and air ticket will not be included in this gift.
To participate in the gift program, the customers will be automatically included in the system if they transact through electronic payment. However, in case of taking the bill through cash transaction, the consumer has to enter the bill number, the seller’s Permanent Account Number (PAN), the bill issue date and the amount by visiting the web portal or mobile application operated by the Department. A single bill or electronic payment will not be allowed to participate in the program more than once.
The Department will select the winners on the 1st and 16th of every month. As per the procedure, one bumper winner for every day and one bumper winner every 15 days will be selected through an automated system. Daily winners will receive Rs 133,334 while bumper winners within 15 days will receive Rs 1 million. However, according to the Income Tax Act, the remaining amount will be paid only after deducting 25 percent tax on such incidental gains.
Once the winner is announced, the Department will inform the concerned person through mobile or email and the name will be publicly published on the website and social networking sites as well.
The winner has to apply to the nearest Inland Revenue Office within 15 days along with original invoice, ID card and bank account details. The government has also stated that action will be taken against the concerned person if the bill is found false or fake during the investigation.
If any winner fails to claim the gift within the stipulated time or if the claim is not reached, such amount will be deposited in the Prime Minister’s Natural Disaster Relief Fund. The Ministry of Finance believes that this program will encourage consumers to ask for bills and bring transparency in the tax system.
Leave your comment