Taxation in Nepal

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Trekking agencies have said that they are facing difficulties in furnishing expenditure details at tax offices as they do not get tax invoice from hotels, lodges and home stay operators and other services providers in rural areas.

The Department of Revenue Investigation (DRI) on Friday raided five service firms including a legal consultancy run by senior advocate Shambhu Thapa, on suspicion of tax evasion.

The Double Tax Avoidance Agreement with India signed on Sunday in Kathmandu is the outcome of almost three years of protracted negotiations. The formal process of negotiation started when Baburam Bhattarai was the finance minister and now has been formally signed when he is the prime minister.

The government has unveiled a five-year strategy and action plan for combating money laundering and financing of terrorism, committing to step up mechanism to trace movement of unhealthy money, criminalize anti-money laundering activities and bolster capacity of concerned authority.

The Nepal India Double Taxation Avoidance Agreement which was not signed as was given to understand that ‘opposed by Nepal in one of the articles’ drafted by India during Prime Minister Baburam’s recent trip to the ‘land of his enlightenment’, will be signed very soon and that too as proposed by India. India never loses […]

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