Tax Breaks In Nepalese 2014/15 Budget
by Mary Swire, Tax-News.com, Hong Kong
23 July 2014
Nepal's finance minister, Ram Sharan Mahat, has offered a number of tax breaks in the 2014/15 budget, including a 50 percent value-added tax rebate for the tea industry.
Manufacturing companies investing at least NPR1bn (USD10m) in capital goods and companies investing over NPR2bn in the tourism or aviation sector will be granted an income tax exemption for five years, and a 50 percent discount for a further three years.
The Budget also announced that a high level tax system review commission will be formed, and outlined plans to modernize tax administration.
Despite numerous tax breaks, the government expects to achieve its targeted revenue collection for the current Fiscal Year of NPR354.5bn.
To see today's news, click here.
Tax-News Reviews
A review and forecast of Cyprus's international business, legal and investment climate.
A review and forecast of Malta's international business, legal and investment climate.
A review and forecast of Jersey's international business, legal and investment climate.
A review of the latest budget news and government financial statements from around the world.
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 »
Network Blogs and Features
- Equity Compensation in Startup - Guide »
- Governments Go Easy on Taxpayers... »
- Digital Doings... »
- UAE Onshore Trust Law: Broadening the scope of wealth preservation solutions in the region »
- FDI Sees Ireland Through Covid and Brexit, Solidifying its Reputation as a European Base for Multinational Corporations »
- Transfer Pricing Tidbits »
- Court Case Catch-Up »
- UK's Tax Agenda Topped Up »
- Trusts Act 2019: New Zealand Foreign - or 'Offshore' - Trust Changes »
- Pulling Tax Rabbits Out Of Budget Hats »