There were 601 enterprises with a turnover of more than one billion, down from 80 in the previous year.

There have been more big trading corporations throughout the economic slump.

The list of major trading companies has been updated by the Internal Revenue Department. which states that these businesses have reached 601.

For the purpose of tax administration, the government has separated taxpayers into three groups. This states that businesses with taxable yearly turnover over $1 billion are included in the list of major businesses. whereby the large tax office handles the administration of taxes.

Similarly, businesses are classified as medium-level if their yearly revenue is between $500 million and $1 billion. The intermediate level taxpayer office handles the tax administration for these types of businesses.

Businesses on the list of small businesses have annual revenues of less than 50 crores. Regional tax offices are in charge of handling these corporate taxes.

Based on their turnover, the Internal Revenue Department used to update the list of these corporations every two or three years. Three years had passed since the list was last updated.

There were 541 enterprises on the updated list for the financial year 2077–2078 having an annual taxable revenue of more than one billion rupees.

Put otherwise, 541 businesses were managed by the large taxpayer office. By themselves, these businesses generated 41% of the nation's total revenue.

Five trillion 26 billion rupees were brought in as internal revenue in the most recent fiscal year. Of this revenue of 2 trillion 17 billion rupees was obtained from the major tax authorities.

The number of large enterprises has grown by 11% over the past three years.

As it hasn't been updated in three years, this percentage ought to have gone up to 25%. Nonetheless, the economy has faced certain challenges throughout the past two years. "We expected that the number of companies doing large transactions would decrease, but it has increased," an Internal Revenue Department official stated. "In general, the tax has not been increased for the last two years."

In total, the number of these big trading organizations has climbed to 60, but the Internal Revenue Department now has 140 additional companies in its database.

Eighty enterprises with a turnover over one billion rupees have experienced a decline in the past. Because these businesses were unable to complete a one billion dollar taxable transaction, they were taken off the Office of Big Taxpayers' list of entities to be supervised.

Put another way, 78 of the 140 companies that were added as a result of having more than one transaction a year were previously involved in 500 million to $1 billion in turnover. 62 of them had less than $500 million in revenue in the past.

There are currently 565 businesses under the management of the mid-level taxpayer office. This indicates that there are now 565 businesses having an annual revenue of more than 500 million rupees but less than one billion rupees.

Forty-eight of the newly added entities came from mid-level tax offices, and sixty-two from regional tax offices.

That is to say, 78 of the 140 companies that were included had a turnover of between $500 million and $1 billion prior to having more than one transaction every year. Less than 500 million was once transacted by 62 of them.

565 businesses are currently under the management of the mid-level taxpayer office. With an annual sales of more than 500 million rupees but less than one billion rupees, there are already 565 such enterprises.