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Nepal enforces guide on POS e-billing systems

January 18, 2018  |  Asia, Electronic Invoicing, Mandatory, Payment

The Nepalese Inland Revenue Department (IRD) has enforced the guideline on electronic billing system with the aim of eventually implementing it at all points of sale.

The electronic billing system connects the point of sale (POS) to the IRD’s computer over the internet, and each time a sale is made and a sales receipt is issued, the transaction is recorded in real time by the taxman. The system is expected to reduce the possibility of tax evasion and under-invoicing.

According to the IRD, a total of 1.6 million taxpayers are registered with the department. Among them, 184,000 are registered for VAT. It said 900,000 business firms fall below the VAT threshold while more than 600,000 individual taxpayers have received permanent account numbers.

The IRD has been implementing the electronic billing system as a complement to its plan to enforce a full-fledged central billing monitoring system.  Under the new guideline, both software developers and firms using it need to receive approval from the IRD. The department currently has cleared 156 software makers to implement the electronic billing system.

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