RSSThe Inland Revenue department raided the shopping complex at Kichapokhari some days ago. The Inland Revenue department had received serious information regarding some businessmen and trading stores being involved in generating extra profit by fraudulent book keeping and by omitting value added taxes. This raid somehow created chaos in and around Kichapokhari and daily activities were disrupted for sometimes. The complex which houses more than a hundred stores were all closed and they stated that “IRD is disrespectful”. Some shop owners even manhandled the Inland Revenue Department staffs that were there to carry out the operation. The area remained tense when the shopkeepers indulged themselves in pelting stones at the security personals. To protest such act of raid all the shops remained closed on the following day. The daily transaction was halted.
Analysing the incidents and the acts of both, the Inland Revenue Department and the entrepreneurs, it’s a pity. There are many entrepreneurs who don’t keep proper books in regards to their accounts and are found to be cheating both the revenue department and the final consumers as well. They don’t pay the value added tax to the government and they are also involved in buying and selling products which are generally under invoiced. This kind of transaction is very unhealthy for the nation but those who are involved in such under invoicing trades are successful in making a lot of money in no time.
Those entrepreneurs sounded quite convincing when they stated that, IRD was being disrespectful, but as a common citizen the IRD is not at all disrespecting the traders. What if an IRD team raids a retail store or a whole sale store and finds no trace of cheating the Inland Revenue Department? In this case, aren’t their dignity lifted up even more? Wouldn’t everyone prosper if everyone maintained proper books and pay the tax in a proper way?
Looking at the traders at R.B. Complex’s behaviour, they all seem to be doing fraud business. Had they been very loyal with the Inland Revenue Department, there seems to be no problem if they are raided. We all know, no customer gets a proper tax invoice in any purchase. If a customer buys a product and asks for a proper tax invoice, they have to pay extra bucks of 13 percent of the marked price while the VAT is already supposed to be included in the marked or tagged price.
The Inland Revenue Department should be stricter with the traders and bring them all under tax.
Analysing the incidents and the acts of both, the Inland Revenue Department and the entrepreneurs, it’s a pity. There are many entrepreneurs who don’t keep proper books in regards to their accounts and are found to be cheating both the revenue department and the final consumers as well. They don’t pay the value added tax to the government and they are also involved in buying and selling products which are generally under invoiced. This kind of transaction is very unhealthy for the nation but those who are involved in such under invoicing trades are successful in making a lot of money in no time.
Those entrepreneurs sounded quite convincing when they stated that, IRD was being disrespectful, but as a common citizen the IRD is not at all disrespecting the traders. What if an IRD team raids a retail store or a whole sale store and finds no trace of cheating the Inland Revenue Department? In this case, aren’t their dignity lifted up even more? Wouldn’t everyone prosper if everyone maintained proper books and pay the tax in a proper way?
Looking at the traders at R.B. Complex’s behaviour, they all seem to be doing fraud business. Had they been very loyal with the Inland Revenue Department, there seems to be no problem if they are raided. We all know, no customer gets a proper tax invoice in any purchase. If a customer buys a product and asks for a proper tax invoice, they have to pay extra bucks of 13 percent of the marked price while the VAT is already supposed to be included in the marked or tagged price.
The Inland Revenue Department should be stricter with the traders and bring them all under tax.
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