Kathmandu. The government has extended the time to update the details along with waiving the fine for the companies that have not submitted the details on time. Considering the demands and problems of industrialists, the Ministry of Industry, Commerce and Supply has extended the deadline for submitting company details from mid-October to mid-December.
According to the Ministry, the provision regarding exemption of taxes, fees, duties, interest and fines has been made targeting the companies which are registered under the Companies Act, 2063 but have not submitted the details on time as per the law. Earlier, time was given till the end of October to update the details of the company. After the request of the businessman, the deadline was extended by three months until the end of December 2083.
According to the information published by the Ministry, the details to be submitted according to the law for the financial year 2082/83 and the taxes, fees and charges to be submitted must be submitted by the end of January. According to the ministry, the company that submits the necessary details and completes the process within the specified period will be exempted from previous taxes, fees, duties, interest and fines.
Businessmen who have not been able to update their company details for a long time due to various reasons and are yet to complete the legal process can benefit from this arrangement. According to the ministry, it is expected that it will help bring the companies that could not submit the details on time into the legal sphere and update the records. The Ministry has requested the concerned companies and businessmen to use the available facilities by submitting the necessary details within the specified time frame.