Tax, fee and penalty waiver deadline for inactive companies extended to end of Poush

The government has extended the deadline for companies that have remained inactive and failed to update their records for years to avail a tax, fee and penalty waiver facility to the end of Poush 2083.

The deadline had previously stood at the end of Asoj 2083. Under a decision made on Kartik 9, it has now been extended to the end of Poush, coming 12 days after the previous deadline lapsed.

The Ministry of Finance has given companies that failed to submit their details within the deadline three more months to pay the taxes, fees and charges due for the last fiscal year. Companies that make the payment within the extended period will not face a penalty.

The facility is also linked to the process of deregistering companies that have remained unupdated for a long time. The extension is expected to bring relief to businesses that could not complete the process on time due to server problems.