Kathmandu: Chaudhary Group (CG) paid Rs. 18.52 billion in taxes to the government during the fiscal year 2080/081, marking a contribution of approximately two percent (1.96%) to the country’s total revenue. This contribution, made by the various companies under CG, is estimated to be the highest among private sector groups.
Despite an economic downturn, challenging business climate, and weak performance in the production and manufacturing sectors, CG maintained a substantial contribution to the national economy. Notably, while the government faced challenges in meeting its revenue targets due to economic contraction, CG’s contribution grew by 15% compared to the previous fiscal year. In fiscal year 2079/080, CG had paid Rs. 16.14 billion in taxes, indicating an increase of Rs. 2.38 billion in 2080/081.
“We are pleased that despite unfavorable economic conditions, we have been able to contribute significantly to the national economy. I believe this contribution will aid in fulfilling the government’s responsibilities related to development and social security,” said Binod Chaudhary, Chairman of Chaudhary Group. “It is an honor for us to support the expansion of the national economy and development projects.”
Over the past five fiscal years, CG has paid a total of Rs. 76.54 billion in taxes. The breakdown includes Rs. 9.87 billion in 2076/077, Rs. 14.28 billion in 2077/078, Rs. 17.72 billion in 2078/079, Rs. 16.14 billion in 2079/080, and Rs. 18.52 billion in 2080/081.
Managing Director Nirvana Chaudhary highlighted that CG has managed to make significant contributions through both established and new business ventures. “We have increased our tax contributions annually and aim to maintain this growth in the coming years,” he said. “CG prioritizes investment within Nepal, expanding into infrastructure and technology-based businesses that contribute to the overall economic development of the country.”
Although the government does not specifically calculate and acknowledge the revenue contributions made by business groups, CG has continued to publicly disclose its tax contributions annually as a responsible corporate entity. It is noted that taxes paid by businesses are not counted towards individual tax payments, which can sometimes lead to public confusion. To address this, CG urges relevant authorities to consider calculating and publishing the tax contributions made by business groups to present the true picture of their role in national development.
