Kathmandu: It has been found that public revenue amounting to nearly Rs 1 billion was evaded by using fake Value Added Tax or VAT receipts.
A probe conducted by the Inland Revenue Department (IRD) revealed that the individuals have evaded public revenue by operating bank accounts in the name of various 11 firms.
According to Director-General of IRD Dirgha Raj Mainali, the individuals evaded VAT and income tax by only presenting fake VAT invoice without buying the goods and services on virtue.
The Department further shared that altogether 13 suspects including the prime accused, Subod Saha of Balara municipality-7 of Sarlahi, and 10 others as well as three accomplice were found involved in the financial scam.
The suspects were found to have defrauded revenue equivalent to Rs 913 million and 56 thousand. Mainali further said that a case was filed at the Patan High Court today demanding completion of the investigation and imposing penalty and imprisonment against the criminals.