RSSA proper book keeping has really been a very important thing in each and every Nepal's business firms and organizations. Though there are a very few organizations whose book keeping is transparent but most of them are vague. None of the organization's books have kept or show true audits. More than half the total transactions are fake and illegally done.
Probably the income tax administration is not very strict with its rules and regulations. There are a number of companies doing transactions with the products which have been imported into the country without paying any taxes which could be termed as illegal. Some business houses don't even provide a value added tax bill to it's customers. Here are some points where firms are doing fraud:
Probably the income tax administration is not very strict with its rules and regulations. There are a number of companies doing transactions with the products which have been imported into the country without paying any taxes which could be termed as illegal. Some business houses don't even provide a value added tax bill to it's customers. Here are some points where firms are doing fraud:
- Salary Sheet:-This is the first thing that private organizations are fraud. There is a provision for those employees who are paid above five thousand needs to pay tax. So what organizations do is, raise three person's salary in the name of a single employee.
- Value Added Tax Invoice:-The retailers and whole sellers don't provide a value added tax invoice to it's customers in most of the products they deal with. Those products which the importer of the distributors have brought in the market have not paid all the import duties.
- Accounting Softwares:-Different organizations are using different accounting softwares which is not an arguable issue. But some of the softwares are totally customizable, so that the traders can hide their illegal transactions.
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