Views Collection

As per the Big Taxpayers Office (BPTO) under the Inland Revenue Department (IRD) the number of big tax payers has reached 228 and is expected to reach 260 by the end of the current phiscal year. Those companies which have a turnover of equal to or more than 250 million are categorized under the big tax payers. According to the news in the himalayan times the title read "Number of big taxpayers up. 228 firms earn more than Rs. 250 million each year."

Is the statement correct? Does a turnover of equal to or more than Rs. 250 million necessarily mean earning Rs. 250 million? Is earning and turnover the same? In no way a turnover and earning is the same. How can a firm which has a turnover of Rs. 250 million has the same amount of earning as the turnover? The title is wrong in this regard. If I would have to write the same article on that matter my title would be "Number of big taxpayers up. 228 firms transact more than Rs. 250 million each year.

However it is good to know that the number of big taxpayers in the local market is rising. Those big taxpayers should be encouraged so as to have the economy booming. There could be so many ways of encouraging them which the government can initiate. Hope that the government will come up with something in the future for these big taxpayers.