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Over 1.3 Million Companies Renew License

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Over 1.3 Million Companies Renew License
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November 3: More than 1.3 million companies have renewed their registration, taking benefit of the concession announced by the government.    
The number of companies renewing their license has increased with the government providing concession in the renewal fees to the companies that had not renewed for a long time.

Finance Minister Janardan Sharma had, through the Budget Replacement Bill 2021, announced that the companies could apply for renewal till January 14, 2022 by paying 5 percent of the penalty.    
The government had announced to write off the remaining charges and fine if the companies did not pay the dues till fiscal year 2018/19 within the stipulated date.

The government had provided this concession in accordance with the Companies Act, 2063 BS and the Private Registration Act, 2014 BS, informed the Company Registrar's Office.    
Registrar Pradeep Raj Adhikari, said that the companies registered in 2020 BS have come for renewal in discount offer. He shared that a remarkable number of companies have come for renewal after the government in its budget offered discount for renewal.

Around 150 applications are filed on a daily basis for the registration of new companies as well as for renewal.    
The registration and renewal of industries have increased compared to last year with the implementation of the discount provision. As of mid-October, 9,794 companies have been registered while this number was 7,526 in the corresponding period of last year.    
According to the Company Registrar’s Office, the number of those registering (new) industries has increased by 30 percent compared to last year. Revenue collection from the registration and renewal until mid-October exceeded Rs 349 million. The collection is almost double than that of the previous year.  -- RSS  
 

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