CONTINUEThis site uses cookies. By continuing to browse this site you are agreeing to our use of cookies. Find out more.
  1. Front Page
  2. News By Topic
  3. Nepal Pushing For Tax Administration Improvements

Nepal Pushing For Tax Administration Improvements

by Mary Swire, Tax-News.com, Hong Kong

28 March 2017


Nepal is drafting a new single tax code "to implement tax policy improvements and to consolidate and harmonize the main domestic taxes under one piece of legislation," the International Monetary Fund (IMF) has said in its Article IV report for the country.

According to the Fund, Nepal intends to introduce the new Code, strengthen tax and customs administration, and set up a new Revenue Board. These efforts, it said, could raise revenues worth 1.75 percent of gross domestic product over the medium term.

"The new legislation, which the authorities aim to implement from 2018, would help reduce compliance costs and create a business-friendly environment," it said. However, it added that "there is considerable scope to raise revenue further."

A tax review carried out by the country recommended broadening the value-added tax (VAT) base and simplifying the major taxes.

TAGS: environment | compliance | tax | business | value added tax (VAT) | tax compliance | budget | International Monetary Fund (IMF) | legislation | standards | Nepal

To see today's news, click here.

 






Close

Password Reminder

Please enter your email address to receive a password reminder.

 











Tax-News Reviews

Cyprus Review

A review and forecast of Cyprus's international business, legal and investment climate.

Visit Cyprus Review »

Malta Review

A review and forecast of Malta's international business, legal and investment climate.

Visit Malta Review »

Jersey Review

A review and forecast of Jersey's international business, legal and investment climate.

Visit Jersey Review »

Budget Review

A review of the latest budget news and government financial statements from around the world.

Visit Budget Review »



Stay Updated

Please enter your email address to join the Tax-News.com mailing list. View previous newsletters.

By subscribing to our newsletter service, you agree to our Terms and Conditions and Privacy Policy.


To manage your mailing list preferences, please click here »