Government of Nepal has launched budget of Rs 1,279 billion for the fiscal year 2074/75 (2017/18). Of this fund, Rs 803.5 billion has been Rs 335.2 billion for capital expenditure and Rs 140.3 billion for financing provision.
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.
Nepal Rastra Bank has unveiled the monetary policy for fiscal year 2018-19. The Monetary Policy among others reduced Cash Reserve Ratio (CRR) to four per cent for commercial and development banks from six and five percent.
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.
The Covid - 19 global pandamic have hit Nepal also in a big way. Due to the pandamic, country went to close down for more than 3 months and still the close down has not been completely lifted. Infection of Corona Virus among the citizens of Nepal is increasing day by day.
Central Bank of Nepal unvealed it's Monetary Policy on July 17, 2020 for the Fiscal Year 2020/21. Governor Mr. Maha Prasad Adhikari through the annual monetary policy attempts to mitigate the economic effects of Covid-19, promising to help support businesses get back on their feet.
