August 9, 2024, Kathmandu
Surya Nepal Private Limited is renowned for being the largest tax contributor to the government.
Surya Nepal’s Top Taxpayer
It has announced a turnover of NPR 29 billion for the fiscal year 2023, marking a 7.81% increase from the previous year. The company’s turnover in 2022 was NPR 27.14 billion, and in 2021 it was NPR 24.49 billion.
In the fiscal year 2080/081, Surya Nepal collected NPR 5.98 billion in income tax and NPR 5.41 billion in value-added tax (VAT), bringing the total revenue to NPR 11.40 billion. The VAT figure might increase further as the submission deadline for the June VAT statement is July 25.
Surya Nepal, a major player in Nepal’s cigarette market with a monopoly position, has consistently been among the top tax filers. The company, established in 1986, reported a revenue of NPR 11.06 billion in the financial year 2079/080, NPR 10.72 billion in 2078/079, and NPR 9.34 billion in 2077/078.
The company is 59% owned by ITC Limited of India, 39% by Nepali investors, and 2% by British companies. Surya Nepal produces and markets a range of cigarette brands, including Surya Legend, Surya Luxury Kings, and Shikhar Filter Kings, as well as incense sticks.
Surya Nepal has reaffirmed its ‘Care NP A1 Plus’ rating for bank loans amounting to NPR 5.75 crore, reflecting its stable and growing business performance.
