Nepal extends tax deadline for business organisations hit by violent student-led protests

Kathmandu, Sep 17 (PTI) Nepal on Wednesday extended by a month the deadline for tax submission for the business and industrial organisations that suffered damages during the violent student-led protests last week.

Finance Minister Rameshwor Khanal, during a meeting here, assured the private sector entrepreneurs that economic reform efforts would be undertaken with their support.

“The Ministry of Finance has extended the deadline for tax submission for the business and industrial organisations by a month at their request,” according to the Ministry sources.

Khanal also assured that the government would take necessary steps to explore what tax concessions could be offered, the sources added.

At least 72 people, including 3 policemen, died during the violent protests on September 8 and 9 that toppled the government led by Prime Minister K P Sharma Oli even as the protestors set on fire houses of political leaders, important government buildings, business establishments and shopping complexes during the agitation led by Gen Z group.

Citing the damage inflicted on the business and industries during the protests, the private sector had asked the government to offer some relief measures to help them in reviving the business and boosting morale.

Khanal extended the tax submission deadline through a ministry-level decision responding to the demands of the community made last week, the sources added.

Minister Khanal also said that the suggestions put forward by the business community would be carefully considered, and that data on the loss and damage caused by the movement would be collected so that appropriate measures could be taken.

On September 13, Nepal’s hotel industry had urged the government to implement “confidence-building measures” for the sector after suffering a loss of NRs 25 billion during the Gen Z protests. PTI SBP NPK NPK