Section 6
Assessment Of Foreign Investment Tax
6. Assessment of foreign investment tax :
(1) The Tax Officer has to assess the amount of foreign investment tax to be recoverable pursuant to this Act for a year within One month, as far as possible, after the
statement of foreign investment has been furnished. Provided that, even though any person has whatsoever foreign investment, statement of all have to be obtained, to be evaluated separately and the foreign investment tax be assessed considering all to be one unit for purposes of this Act.
(2) In assessing the tax to be levied in the foreign investment for each year, tax shall be assessed in the name of such person in which possession the foreign investment stand on the first day of the month of Shrawan as a right recognised by the law.
(3) In assessing such tax, the Tax Officer shall have all of such powers as the court is entitled to pursuant to the prevailing Nepal law in respect of properly considering the statements furnished by taxpayers and issuing summons in the name of the concerned person, getting them to make depositions, and submit documents for purposes of examining such statements, as the case may be.
Provided that, in taking action pursuant this Section, if the tax payer makes a petition for a time-limit not exceeding Seven days or makes a petition to the tax officer in person or through his/her attorney within Seven days to get the expired time-limit extended, the Tax Officer may accept the petition or extend the time limit. No petition for a time limit shall be accepted nor shall the expired time limit in excess of the said time-limit be extended.
(1) The Tax Officer has to assess the amount of foreign investment tax to be recoverable pursuant to this Act for a year within One month, as far as possible, after the
statement of foreign investment has been furnished. Provided that, even though any person has whatsoever foreign investment, statement of all have to be obtained, to be evaluated separately and the foreign investment tax be assessed considering all to be one unit for purposes of this Act.
(2) In assessing the tax to be levied in the foreign investment for each year, tax shall be assessed in the name of such person in which possession the foreign investment stand on the first day of the month of Shrawan as a right recognised by the law.
(3) In assessing such tax, the Tax Officer shall have all of such powers as the court is entitled to pursuant to the prevailing Nepal law in respect of properly considering the statements furnished by taxpayers and issuing summons in the name of the concerned person, getting them to make depositions, and submit documents for purposes of examining such statements, as the case may be.
Provided that, in taking action pursuant this Section, if the tax payer makes a petition for a time-limit not exceeding Seven days or makes a petition to the tax officer in person or through his/her attorney within Seven days to get the expired time-limit extended, the Tax Officer may accept the petition or extend the time limit. No petition for a time limit shall be accepted nor shall the expired time limit in excess of the said time-limit be extended.