Kathmandu, July 1 -- Tax authorities have frozen the bank accounts of around 5,000 firms and individual taxpayers and prevented a number of them from going abroad for not clearing their tax liabilities.

Although such a move is not unusual, it is the first time that taxpayers-individuals and firms-have been targeted in such a huge number, tax officials said.

According to them, it was high time strong measures are taken to bridge the huge deficit between revenue collection and the target.

According to the Inland Revenue Department, it is currently facing a tax deficit of Rs39 billion compared to the target. In order to meet the total tax collection target of Rs404 billion, the tax office should raise Rs103 billion in the month of Asar (m...