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Taking the pride of responsible corporate – Vishal Group
Since the last eight decades, the country of Nepal has seen many changes. During this time, a small textile shop owned by Shri. Gordhandas Agrawal had also faced many transformations. Through committed efforts towards business, this small shop has been converted to a giant corporate business house. Moreover, today this business house homes many subsidiaries under it with impressive financials.
This small shop, referred here is popularly known as Vishal Group in the Nepal Economy. In the present scenario, this group is diversified into various working dimensions- Manufacturing of Iron and Steel, Banking services, Life Insurance, also home one of the major FMCG giant and many more. Some recent addition to this list involves Hydropower, Cement, Agriculture and Education. Thus, there is a major change taken in the period of few years. Today, the group is renowned for its excellent services and its reliability of products.
Nepal, being one of the under developed country, the status of its economy is not stable and this instability is aggravated by the unfortunate events of bribery, theft, corruption etc. Further, the nation is facing major political instabilities along with politicians involved in scandals and scams, ruins the situation. However, one of the major thefts considered from the corporate that potentially weakens the economy is the non payment of taxes. These include corporate taxes and Value Added Taxes. Most of the companies in Nepal do not pay these taxes which acts as an obstacle in the path of development of the nation as most of the infrastructure facilities are provided by the government for the people by the recovery of these taxes.
With this background, the Vishal Group stands apart. The group has maintained its dignity by paying their required tax amount on time and regularly. One of the FMCG giant of Nepal, also the subsidiary of the group known as United Distributors Nepal Pvt. Limited or popularly known as UDN is the highest tax paying organization in the Nepal. In a country like Nepal where nonpayment of taxes is very common, it is an affair of pride for the group and in order to make other companies learn the value of their tax payment, it was highly crucial to award those who are the regular tax payers. In this view, a function organized by Foreign Trade Association, Nepal where the Prime Minister, Nepal, Mr. Madhav Kumar had awarded UDN as the highest tax paying organization in the Nepal. This tax involves components such as Customs Duty, Value Added Tax, and Income Tax etc.
In this lieu, the Government of Nepal expects the other business companies to get motivation to pay their right amount of tax at right time.
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