Home Business Sipradi’s Rana Named Top Single Taxpayer

Sipradi’s Rana Named Top Single Taxpayer


KATHMANDU, 18 NOV 2014 – The Inland Revenue Department (IRD) announced on Monday that Executive Chairman of Sipradi Trading Siddhartha Shamsher Jung Bahadur Rana became the top individual taxpayer in Nepal for the second year in a row.

The IRD has not divulged the amount of income tax he paid to the taxman. Sipradi is the authorised dealer of Tata Motors in Nepal. Rana is also the chairman of Bhotekoshi Power Company and Tara Management Company.

Similarly, Sipradi has earned the distinction of being the highest income tax payer among trading companies. “We are proud that our company and chairman have become the highest income tax payers,” said Rajesh Prasad Giri, a senior official of Sipradi.

Likewise, among corporate taxpayers, Ncell was the highest income tax payer in the last fiscal while rival Nepal Telecom was the largest value added tax (VAT) payer, said the IRD. The IRD also felicitated the top taxpayers from different categories on the occasion of the third National Tax Day.

Nabil Bank topped the list of income tax payers among banks while Kiran Shoes Manufacturers won the honours among exporters. The Soaltee Hotel was the number one taxpayer in the hotel category while IME Limited was  the highest income tax payer among money transfer agencies.

Similarly, Om Hospital and Research Centre topped the list in the health sector while Buddha Air was the highest income tax payer among airlines. Deurali Janata Pharmaceuticals was the highest income tax payer among pharmaceutical companies and Om Chabobira Feed Industries led the list of companies related to agro business.

Chhimek Micro-Finance was the top taxpayer among micro-credit institutions. CSC & Co topped the list of chartered accountants while Pioneer Law Associates came first among law firms. Likewise, Kathmandu Medical College was the highest payer of education service fee among educational institutes.

Meanwhile, the IRD felicitated Trishakti Trade Centre for excellent tax participation under VAT. The taxman also honoured the Federation of Nepalese Chambers of Commerce and Industry, Nepal Bankers’ Association, Society of Economic Journalists and tax expert Roop Bahadur Khadka at the ceremony.

Source: eKantipur


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