Problem Statement

Problem Statement

Even having willingness, investment and growing human resource in the market, most of the Nepalese companies and organizations are facing challenges, not only from the political and economic crisis, but also due weak beaurocracy.

From one of our research in Nepalese market, we finally concluded some major beaurocratic challenges (problem statements)for Nepalese organizations and its possible solutions (our goal /objectives). To address these problems we finally developed some products and services for our clients and designed effective /efficient operation system through a brand Globe Ex Management.

Lack in accurate information

Because of unclear information provided by the government institutions and in lack of its effective information centers, companies and business owners are facing challenges for accurate and timely documentation / report submission to its concerned government departments.

Additional cost

Beyond the regular cost of business as income tax, VAT, Registration fees, almost more than 30% of the institutions have been found paying additional cost as penalty due missing the submission of reports and documents to the concerned government offices.

For example: Failure in annual documentation in OCR ( office of company registrar ) is charged minimum 8-10 thousand a year and its multiple from next year. Failure in VAT filing is charged thousand (1000) per month.

Dealing multiple service providers and consultants

Companies have to deal with the different consultants and government institutions for the proper documentation, compliance and report generation as well its submission like; Auditor, lawyer, department of ministry, OCR (office of company registrar). Companies have to bear multiple cost as of auditor fee , layer charge ,tax filer cost etc. it also consumes more time in dealing with different parties stated above.

Confusions

Companies get confusion about filing documents in registration office, concerned ministry, tax / VAT issues etc. It also generates delay in dateline and process of submission. Some of the documents are to be filed in multiple departments of government which shall generate confusion while dealing with different parties. Eg: Audit report

Time/ Deadline

If the deadline is crossed for delaying the submission of document, then the companies have to bear the penalties to the government like as; penalty for delay in report submission in office of company registrar, tax office etc.. Sometimes organizations have to face government actions for absence of proper compliance and documentation.

Eg: Education consultancies those missing the registration in ministry are declared illegal and were taken action.