Is there no continuity for sole proprietorship after the owner is gone in Nepal?
My family has been running a small sole proprietorship business for many years and has always been a regular PAN/VAT taxpayer.
From what I've understood, if the registered owner is no longer there, another family member can't simply take over the existing PAN/VAT and must register a new business.
Does this really mean years of tax history are lost, even though the same family continues operating the same business? Is there any legal provision or practical solution for this in Nepal?
I'd appreciate any information from those who have experienced this or know about this.