The Revenue Investigation Department has filed a case against Nepal-based American software company Cotivity Nepal on charges of revenue evasion.
The department has filed a case against CoTVity Nepal in the Patan High Court on Sunday, maintaining a debt of Rs.
The director general of the department, Navraj Dhungana, said that this is the first time that such a large amount of punishment has been filed against a single business company.
Although Cotivity has seen changes in share ownership in different financial years, according to the change in share ownership of the company, the presented company has to pay taxes according to the prevailing laws without informing the medium level taxpayer office, including the registered medium level taxpayer office of the Government of Nepal. It is alleged that the department has leaked the revenue without filing the tax revenue.
Revenue leakage for the purpose of revenue leakage by selling its services to the main company, CoTV Inc. As it has been confirmed that he has committed an offense under Act 2052, a case has been filed maintaining a total of Rs.
Cotivit Nepal is a wholly foreign-owned company registered in Nepal. As the company's previous name was Versic Information Technology, according to the decision of the shareholders on 28th of Shravan, 2073, the name of the company was changed to Versend Technology and approved by the Registrar of Companies on August 08, 2073.
In accordance with the special decision of the shareholders of the company dated November 01, 2075, as per the application to change the name of Versend Technology and maintain CoTVity Nepal, according to the letter dated February 08, 2075, the company has been conducting its business under the name of Cotvity Nepal Pvt.