Kathmandu, June 29
Stock brokers have launched an indefinite strike on Thursday protesting the Inland Revenue Department’s directive to pay VAT on commissions they collect from investors.
An emergency meeting of the brokers held in Kathmandu this morning made the decision. The Department had recently written to all broker companies to pay the VAT for past five years. The Department also called the companies to immediately get themselves registered as VAT payers.
The brokers, however, protested the decision claiming the new rule was never mentioned in the budget announcement.
Meanwhile, the brokers had led a delegation to the Security Board of Nepal for a discussion in a bid to resolve the issue.
