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Inland Revenue Department urges people to take invoices

Kathmandu. KATHMANDU: The Inland Revenue Department (IRD) has urged all consumers and businessmen to compulsorily collect and provide invoices while buying and selling goods and services.

TAG_OPEN_div_15Issuing a notice, the Department has requested to develop a culture of giving and receiving invoices in the purchase and sale of goods and services. The Department has also reminded that the taxpayer incentive gift program is being implemented with the objective of increasing tax compliance and encouraging documentation of real transactions.

According to the department, the purchase bill is mandatory to participate in the program and get the prize, so the consumer will have to compulsorily take the purchase bill while purchasing the goods and services.TAG_OPEN_div_13 The notice has urged those entrepreneurs who have been operating their business without a permanent account number (PAN) to get PAN and join the tax system immediately.

} Similarly, all businessmen have been reminded of the provision of issuing a bill of sale while selling goods and services.

The Department has expressed the belief that making the practice of invoice taking and giving effective would make the tax system transparent, help in documentation of the actual transaction and develop a culture of voluntary tax compliance among the taxpayers.TAG_OPEN_div_9

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