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Dri Sues Construction Firm For Tax Evasion: $15 Million Lawsuit Unveiled
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On May 8, Nepal’s Department of Revenue Investigation (DRI) initiated legal action against a construction firm, seeking approximately Rs 1.2 billion as compensation for alleged tax fraud. The Directorate of Revenue Intelligence (DRI) submitted a petition valued at Rs 1.2 billion to the High Court in Patan against Dhruba Construction Pvt Ltd, a firm…
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DRI Sues Construction Firm for Tax Evasion: $15 Million Lawsuit Unveiled
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On May 8, Nepal’s Department of Revenue Investigation (DRI) initiated legal action against a construction firm, seeking approximately Rs 1.2 billion as compensation for alleged tax fraud. The Directorate of Revenue Intelligence (DRI) submitted a petition valued at Rs 1.2 billion to the High Court in Patan against Dhruba Construction Pvt Ltd, a firm…
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Finance Bill 2025: Goods Shifting from Zero-Rated to Tax-Exempt Status
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President William Ruto’s cabinet has endorsed the Finance Bill 2025, designed to generate revenue for the fiscal year 2025/26. The bill suggested modifications to taxation policies, encompassing an alteration to the Value Added Tax (VAT) Act. The amended VAT Act aims to shift certain products, such as raw materials used in pharmaceutical production, from…
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Finance Bill 2025: John Mbadi Sets the Record Straight on Zero-Rated Goods Tax Changes
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The Finance Bill of 2025 suggests modifications to taxation categories and policies aimed at generating additional revenue for the financial period spanning 2025-2026. The bill suggested amendments to the Value Added Tax (VAT) Act with the aim of shifting certain products from being zero-rated to becoming exempt from taxation. The Treasury Cabinet Secretary (CS),…
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Taxing the Shadow Economy: Challenges, Policies, and the Path Forward
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By Alex Moyem Kombat(Dr) Taxes hold significant importance in constructing and maintaining global economies. They generate the income required for national progress. In most nations globally, taxes are typically gathered from both the formal and informal economic sectors. While various measures and strategies have been implemented to maximize tax revenues from both the formal…
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Tax Strategies for SMEs: Navigate Planning with Precision
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Adopting a strategic method for tax planning is crucial for businesses seeking significant returns on their investments. This process entails managing or reducing tax obligations while ensuring adherence to applicable laws. This process entails examining a company’s financial standing, revenue, expenditures, and related elements to develop tactics for managing their taxable obligations towards the…