The Finance Ministry has instructed authorities to amend the taxpayer incentive guidelines so that business owners providing bills to customers also receive cash rewards.
New Incentive Plan for Business Owners
Finance Minister Dr. Swarnim Wagle has given directions to the Inland Revenue Department to revise the current incentive policy. This change aims to encourage merchants who sell goods and services to issue bills. The government has already been giving cash prizes to consumers who ask for bills since the start of this current fiscal year to help build a formal economy.
Minister Wagle noted that while the campaign has successfully made customers aware of the importance of taking bills, many merchants are still hesitating to provide them. He said that it is important to develop a culture of issuing bills alongside the existing culture of taking them. The Minister has asked officials to prepare a proposal on how to distribute these rewards so that the process is easy for the sellers.
Details of the Current Taxpayer Incentive Program
The taxpayer incentive program started on Shrawan 1. Under this system, based on bill numbers, one person wins Rs 1 lakh 34 thousand every 15 days, and one person wins a bumper prize of Rs 10 lakh. After cutting the tax on unexpected gains, the daily winner gets Rs 1 lakh and the bumper winner gets Rs 7 lakh 50 thousand. By Ashwin 15, seventy-four people have received 1 lakh rupees each and five people have received the bumper prize.
If the department updates the guidelines in time, the next round of prizes starting from Ashwin 16 could include sellers as well. Although the exact prize amount for sellers is not decided yet, it is expected that their reward will be lower than what customers receive. To join this program, consumers must collect valid PAN or VAT bills. Those who pay online are automatically eligible, while those who pay in cash can upload their bills through the link available on the Inland Revenue Department taxpayer portal.
AI Disclaimer: This article was originally published on https://bajarkochirfar.com. It has been translated with the help of AI. For the best understanding and accurate facts, we recommend reading the original Nepali version.
