02/04/2024
'Tax Certainty' is the first and foremost element to foster favourable investment climate. There must be consistency in interpretation of tax laws to ensure tax certainty. When you have over sixty tax officers interpreting a provision of tax law in a way that is different to your opinion, you should ponder whether your interpretation is correct! But, what we can see from recent tax cases is that we are accusing all our predecessors of having malafide intent in interpreting law, when we have differing opinion.
Further, is total tax claim exceeding the turnover of a taxpayer justifiable claim? Should not we consider the overall economic impact while determining the degree of financial penalty on the matters that are purely the dispute as to interpretation of law?
Wondering about these things, I have found a very good explainer from Janardan Baral of onlinekhabar on recent tax dispute of Cotiviti and sharing the news:
२० चैत, काठमाडौं । नेपालमात्र होइन, संसारका कुनै पनि देशमा वस्तु तथा सेवा निर्यातमा मूल्य अभिवृद्धि कर (भ्याट) लाग.....
