Finance Minister of Nepal Mr. Bishnu Poudel has tabled the Budget of F.Y. 2073/74 on Jestha 15 2073. People of Nepal were eagerly waiting for this budget as it was the first budget after the promulgation of Constitution of Nepal 2072.
Nepal has a moderate Corporate Tax Rate in comparison to the Tax Rate of it's South Asian Counterpart. Though the Country is still struggling to come out of the Political Instability, However it holds a tremendous opportunity for the Investors to invest in various sectors most notably Hydro and Real Sectors.
The Labor Act, 2074 has received the assent of president and become effective from the date Bhadra 19, 2074. The Labor Act, 2074 has replaced the previous labor law completely i.e. Labor Act, 2048 has ceased to be in effect.
The Finance Minister Yubaraj Khatiwada tabled the first Budget of PM KP Oli led majority government earlier this week. He allocated total budget of NPR 1315.16 Billions of which 62.83% was Current Expenditure and 26.21 was Capital Expenditure.
Finance Minister, Dr. Yuvraj Khatiwada on May 29, presented an ambitious Rs. 1.532 trillion federal budget for the fiscal year 2076/77 (2019/20) in the joint session of the House of Representatives and National Assembly.
Nepal signed it first Double Taxation Avoidance Agreement with the neighbouring country India way back in January 18, 1987. Prior to that, the provision of giving deduction in foreign tax already existed through the Income Tax Act, 1974 but the provision of foreign tax credit has been introduced through tax treaties with various countries thereafter.
Nepal Rastra Bank has issed Monitary Policy for fiscal year 2019/20. The Monitary Policy has targetted the GDP Growth Rate of 8.5 percent for the coming Year. The Monitary Policy has made it mandatory for commercial banks to issue debentures/corporate bonds amounting to 25 per cent of their paid-up capital by end of the fiscal.
Finance Minister Mr. Khatiwada on May 29, presented NPR 1.474 trillion federal budgets for the fiscal year 2077/78 (2020/21) in the joint session of the House of Representatives and National Assembly.
A Foreign investor can invest or operate a business in Nepal (i) by incorporating a limited liability company in Nepal, (ii) by acquiring shares of a limited liability company already in existence.
Dr. Khatiwada has announced few tax and value added tax amnesty schemes through this budget.