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.
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.
In this issue, the Newsletter throws some lights into the Value Added Tax in Nepal, Procedure for Foreign Investment in Nepal, Withholding Tax (TDS) Rates on Different Payments, Upcoming Budget of Nepal.
In this issue, the Newsletter throws some lights into the FDI Attractions in Nepal, Tax on Employment, Watchlist Provision introduced by Central Bank of Nepal recently and the Banking Reforms in Nepal.
Government of Nepal's Current Finance Minister Dr. Ram Sharan Mahat presented the Budget on July 14, 2015 for the Fiscal Year 2072/73 (2015/2016). The total size of the budget announced for Nepal's new Fiscal Year is Rs 819.468 billion.
With the successful Second Constitution Assembly Election in 2070, Nepal has got the First Budget from the Finance Ministry. Though the Budget has given a ray of hopes among the Business Community of Nepal, yet it has failed to address many concerns of the Poor except that it has widened the Tax Exemption Limit.
Finally, the Republic of Nepal has witnessed a full fledged budget after two long years. The budget has brought some rays of hope among Nepalese people, Government employees and Private Sector in particular.