LP Gas Industry Association Seeks Merger Provision
Summary
The Nepal LP Gas Industry Association has asked the Nepal Oil Corporation to ensure that sections 57 and 95(a) of the Income Tax Act do not apply to gas industry mergers. The group says most LP gas companies could merge if the tax provisions are not enforced.
Key Points
- The Nepal LP Gas Industry Association has asked that sections 57 and 95(a) of the Income Tax Act, 2058, not be applied.
- The association wrote to the Nepal Oil Corporation after the corporation urged LP gas industries to prepare for merger plans.
- General Secretary Amit Agarwal said most industries could merge if the tax provisions are not triggered through the corporation.
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