The Federation of Nepalese Chamber of Commerce and Industry (FNCCI) urges the government to review its double taxation laws as the private sector finds itself badly affected by the pandemic. ... - Continue reading
Finance Minister Yubaraj Khatiwada has said that taxpayers should not worry about the duplication of taxes in the different layers of the government citing that taxes enforced by the subnational governments is because of lack of tax awareness. He reaffirmed that the duplication of taxes will no longer exist. Speaking… – Continue reading
Sep 18, 2017-The tax authority has started conducting a study to link its system with computer billing machines of retailers in the Kathmandu Valley in a bid to gain access to real-time data on financial transactions of vendors and improve tax compliance. The Inland Revenue Department (IRD) had begun the… – Continue reading
Former Prime Minister and Coordinator of Naya Shakti Party Nepal, Baburam Bhattarai, has said that the offshore deal to transfer 80 percent of the shares in Ncell was an attempt to evade taxes. “Attempts have been made to evade tax by not registering share transfer information at the Office of… – Continue reading
CAN NEPAL IMPOSE CAPITAL GAINS TAX ON NCELL BUYOUT DEAL? This question has been making rounds ever since TeliaSonera, the largest shareholder in Nepali telecom operator, Ncell, announced its decision to sell 60.4 per cent of its stake in the telecom company to Malaysian giant, Axiata, for $1.03 billion. Divergent… – Continue reading
If Swiss banking secrecy laws gave Switzerland the world banking capital status, Monaco’s residence policy gives its realtors a thriving business. What is common between the Canadian Raonic who lost in the Australian Open semifinals and the Serbian Djokovic who won it? Well, they are both residents of Monaco, and… – Continue reading
Nov 22, 2015- Lack of clarity over double taxation on petroleum products from China will delay the signing commercial agreement with Petro-China. For now, the government is sending a technical team of Nepal Oil Corporation (NOC) to China on Monday to clarify the issue of taxation before a high level… – Continue reading
On November 13, 2015 the UK HM Revenue & Customs (HMRC) published a policy paper setting out planned negotiations on Double Taxation Agreements (DTAs) and Tax Information Exchange Agreements (TIEAs). According to the policy paper HMRC will begin negotiations on double taxation agreements with: • Nepal • Romania • Trinidad… – Continue reading
Bangladesh is set to sign an agreement with Bhutan to avoid double taxation to boost investments, trade and facilitate information exchange between the two Saarc nations, the National Board of Revenue said in a statement. A team led by NBR Chairman Md Nojibur Rahman is now in Thimpu to take… – Continue reading
ISLAMABAD: Commerce Minister Khurram Dastgir Khan informed the National Assembly on Monday of what he called major steps taken by the government to facilitate the oft-troubled Afghan transit trade, which he said he had also conveyed to Kabul during a visit there earlier this month. The move, he said in… – Continue reading
KATHMANDU, APR 16 – With the selected consultant for the Tanahu Hydropower Project demanding income tax exemption during ongoing negotiations before signing a contract, the Nepal Electricity Authority (NEA) has said that the government cannot provide the facility as the current tax law does not allow it. The NEA clarified… – Continue reading
KATHMANDU, Jan 30: Nepal and Bangladesh on Thursday agreed to sign Double Taxation Avoidance Agreement (DTAA). Issuing a statement on Thursday, Inland Revenue Department (IRD) said the fourth round of meeting for DTAA held in Kathmandu took the decision. Director General of Inland Revenue Department (IRD) Chudamani Sharma and Head… – Continue reading
KATHMANDU, Jan 30: Nepal and Bangladesh on Thursday agreed to sign Double Taxation Avoidance Agreement (DTAA). Issuing a statement on Thursday, Inland Revenue Department (IRD) said the fourth round of meeting for DTAA held in Kathmandu took the decision. Director General of Inland Revenue Department (IRD) Chudamani Sharma and Head… – Continue reading
PARSA, AUG 08 – Different business firms in the district have been slapped with a combined fine of Rs 53.9 million by the Inland Revenue Office (IRO) Birgunj for tax evasion. The IRO had found 47 firms of evading tax by making fake Value Added Tax (VAT) bill. However, the… – Continue reading
KATHMANDU: US taxpayers, including US citizens, firms and green card holders, living in or operating from Nepal will come under close scrutiny of the US taxman from now onwards. Issuing a circular today, Nepal Rastra Bank directed all Nepali banks and financial institutions to provide bank account information of US taxpayers living… – Continue reading
