68 firms penalized for fake invoices

CHITWAN: The Inland Revenue Office in Bharatpur took action against 68 firms last year for using fake invoices in trade.

Office Chief Niran Bhattarai reported that Rs 1.4 billion was collected in revenue from fines imposed on these wrongdoers.

The investigation revealed Rs 718 million owed under income tax and VAT, and an additional Rs 33 million under other taxes.

The office investigated invoices from scrap entrepreneurs, hardware and kitchen utensil traders, and clothing merchants, with scrap traders being the most frequent offenders in creating fake VAT bills.

Additionally, the office collected Rs 75 million in fines through monitoring 227 firms.