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digitalgurkha · 6 years

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Best BIT College in Nepal

Before we go to detail about best BIT College in Nepal, Let’s have some information on the scenario of BIT in Nepal as well as whether it is good to study BIT in Nepal or Not.

What is BIT?

BIT is stands for Bachelor of Information Technology. The degree has a noteworthy spotlight on computer and innovation, it varies from a Computer Science qualification in that understudies are additionally anticipated that would think about administration, Management and information science, and there are reduced prerequisites for arithmetic and mathematics. A degree in computer science can be relied upon to focus on the logical parts and scientific aspects of computing, while a degree in BIT can be required to focus on the business and communication applications of computing. There is more accentuation on these two courses in the web based business, e-business and business information innovation undergraduate courses. Explicit names for the degrees differ crosswise over nations, and even colleges inside nations. This academic program is a good alternative to other IT programs such as BSc. IT, BTech.IT and Diploma in IT.

Overview:

· Name: BIT (Bachelor of Information Technology)

· Degree Type: Bachelor’s Degree

· Duration: 3 or 4 years (Depends upon the University and Colleges)

How is the scenario of BIT in Nepal

Various IT Colleges are opening in Nepal for extend the learning of IT in Nepal .The various informative affiliation work for the progression of IT in Nepal. The Foreign association and financial related authority are inquiring about IT in Nepal and its developing.

What to do After Studying BIT in Nepal

The following are the list of most common career paths that Nepali IT graduates as well as International IT graduates follow:

a. System Analyst

b. Software / Application Project Manager

c. Software Designer and Developer

d. Web Designer and Developer

e. Database Admin / Manager

f. QA officer

g. Network Admin / Manager And many more.

h. SEO

Best BIT College in Nepal

There is no such thing as best College in BIT in Nepal. Teaching is equivalent in all the campuses and so are placements. But according to the experience of students and analyzing the professor around the hoods, IIMS College stands out as the Best BIT College in Nepal. The institute lies in Dhobidhara, Kathmandu, Nepal.

Why IIMS is Best BIT College in Nepal?

At IIMS, BIT or B.Sc.(Hons) Computing is an internationally recognized course offered by UCSI University. The course consists of 123 credit hours, which requires minimum of 3 years for completion. The curriculum designed is such that it covers all the emerging market demands, without having to search for any additional classes to enhance skills. For full information click here Best BIT College in Nepal.

If you are keen on acquiring the most recent specialized technical abilities in computer programming and utilization of creative innovation, Computing is the perfect program for you. The program gives top to bottom and hands-on learning of the standards of programming structure and improvement and key operational and specialized parts of computing. Understudies of this program will ace the important business aptitudes, for example, examination and configuration, programming, programming building, support of new improvements, database organization, framework organization and some more.

B. Sc. (Hons) Computing program has been planned with the goal that every semester, the core content of the syllabus is liable to 10% alteration to incorporate new developments and changes in innovation and technology. The School of Information Technology conducts yearly industrial board meetings with its board individuals including Multimedia Development Corporation (a legislature claimed instinct in charge of the administration of Malaysia's Super Corridor), Exabytes (Malaysia's largest cloud hosting organization) and Hilti Malaysia (a software global enterprise) among others. For full information click here Best BIT College in Nepal.

IIMS - B. Sc. (Hons) Computing Course Summary:

· Classification : BSc. Hons

· Subject Area : Computing

· Course Model: Full Time

· Course Duration: 3 years / 9 semesters, 7 weeks per short semester

· Course Location: USCI university, KL / IIMS college, Nepal

· Intake: January, May and September

Admission Criteria:

· 50% and above in +2 or minimum 2 principle subjects in A Level

· At least 50% in Mathematics of SLC

· English Requirement (TOEFL/ IELTS/ EPT conducted by University)

Assessment:

· Assessment in computing is different and internationalized compared to other IT courses. Assessments consist of:

- Attendance

- Assignments

- Class Participation

- Tutorials

- Project Works

- Internal and University Examination

For full information click here Best BIT College in Nepal.

#Best BIT College in Nepal #top bit college in nepal #BIT College in Kathmandu #BIT college in Nepal

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digitalgurkha · 6 years

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Best BIT College in Nepal

#Best BIT College in Nepal #BIT college in Kathmandu #BIT college in Nepal #Top BIT college in Nepal #Top BIT college in Kathmandu

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digitalgurkha · 6 years

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Best BIT College in Nepal

http://iimscollege.edu.np/page/index/computing

IIMS College stands out as the Best BIT College in Nepal. The institute lies in Dhobidhara, Kathmandu, Nepal.

#Best BIT College in Nepal #BIT college in Nepal #top bit college in nepal #Best bit college in kathmandu

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digitalgurkha · 6 years

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Accounting Firms in Nepal

#Accounting firms in nepal #Accounting & Bookkeeping Services in Nepal #Accounting Service in Nepal #accounting firm in nepal

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digitalgurkha · 6 years

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Accounting Firms in Nepal

Reanda Bizserve Nepal Pvt. Ltd.

1. ACCOUNTING

Business relies on information whether it is financial, market related or human information. To lead in competitive market, strong financial information is a business need. To meet such need, Reanda Bizserve Nepal cater financial accounting service where all the financial information is maintained which serve to make prudent financial and investment decision.

(For complete info click here Accounting Firms in Nepal)

Financial and Cost Accounting

Tracking of financial information using standardized guidelines is of utmost importance in any business. Also, to make the solid decision in the company, cost accounting information is value additive to decision makers. With their team of professionals, they provide financial and cost accounting service to their clients that satisfy their expectations.

Bookkeeping

Ensuring that records of financial transactions are correct, up-to-date and comprehensive is the need of business. they make sure to their clients that financial aspect of business transactions are systematically recorded in an appropriate manner.

Payroll Management

They assist their clients in enhancing organizational performance by providing support in strategic benefits. Also, complying with legislation, they manage their clients’ payroll system which boosts their operational efficiency.

(For complete info click here Accounting Firms in Nepal)

Financial Statement Preparation and Reporting Compliance

Their team members equipped with requisite in-depth knowledge and professional qualifications provide support to their clients in preparation of financial statement and complying with reporting requirement.

IFRS Conversion and Compliance with Local Reporting Standards

With the rapid change of business modality around the globe, reporting in common language is a pre-requisite for the investors in order to make their firm's decisions. To cope with International Financial Reporting Standard (IFRS), local accounting/reporting standards are to be adopted / converted accordingly. They provide a wide range of services of conversion/adoption in full compliance with the requirement of IFRS/NFRS from their imminent experts.

(For complete info, click here Accounting Firms in Nepal)

To know about Reanda Bizserve Nepal click here)

2. FINANCIAL REPORTING

In the present worldwide monetary condition, Financial Reporting Standards has turned into a business required. They guarantee legitimate execution and announcing of International and Country Specific Financial Reporting Standards/Accounting Standards.

Foreign Investment and business incorporation

Outside ventures by and large incorporate value speculation and advance venture. They offer administrations from organizing of remote speculation, consolidation of neighborhood adventure, prompting on consistence issues alongside reasonable leave systems.

(For complete info, click here Accounting Firms in Nepal)

Corporate Management and Transactional Documentation

Guaranteeing opportune and exact consistence is an outright necessity for any association. They support to their customers in conforming to all the corporate consistence prerequisites. Not just they assist their customers with everyday lawful secretarial record administration they additionally bolster them to receive a more vital and predictable methodology over their business.

International Financial Reporting Standards (IFRS)

With the changing business methodology over the globe, detailing in like manner dialect is pre-essential for the financial specialists to settle on their firm choices. To adapt to International Financial Reporting Standard (IFRS), local bookkeeping/announcing norms are to be received/changed over in like manner. They give extensive variety of administrations of transformation/appropriation in full consistence with the necessity of IFRS from their inevitable specialists. (For complete info, click here Accounting Firms in Nepal)

Country Specific Financial Reporting Standards

Apart from IFRS, they also provide supports on country specific local accounting / reporting standards.

3. Transaction Advisory

As the stakes for both purchaser and vender is high in each deal/buy bargain, it requires understanding, assurance, and discernment to convey bargains securely to an end. Their devoted group of specialists will bolster in each conceivable zone to execute the exchange.

Foreign Investment and business incorporation

From beginning attainability, due constancy and business valuation to the end of the exchange, they keep up an attention on the fruitful execution of each part of arrangement alongside most extreme incentive for their customers. Arrangements are an open door for quicker development, more grounded capacities and emotional change. Tackling this potential requires foreknowledge that just originates for a fact and certainty. They help their customers on arrangements from wanting to effective conclusion. This incorporates warning to purchaser too vender. (For complete info, click here Accounting Firms in Nepal).

Due Diligence Review

Due steadiness survey is an essential part of any deal/buy bargain. Their budgetary/legitimate/assess/administrative/specialized specialists are constantly anxious to convey their best in conveying a due persistence audit.

Financial Modeling

They help you in financial related demonstrating for different purposes, for example, business cases, rebuilding, acquisitions/divestments, valuations, gauges and spending plan. (For complete info, click here Accounting Firms in Nepal)

#Accounting and Bookkeeping Service in Nepal #Accounting firms in Nepal #Accounting Service in Nepal #Bookkeeping Service in Nepal #Accounting and Bookkeeping Consultant in Nepal

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digitalgurkha · 6 years

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Accounting & Bookkeeping Services in Nepal

(For complete info click here Accounting & Bookkeeping Services in Nepal)

Financial and Cost Accounting

Bookkeeping

Payroll Management

(For complete info click here Accounting & Bookkeeping Services in Nepal)

Financial Statement Preparation and Reporting Compliance

IFRS Conversion and Compliance with Local Reporting Standards

(For complete info, click here Accounting & Bookkeeping Services in Nepal)

To know about Reanda Bizserve Nepal click here)

#Accounting & Bookkeeping Services in Nepal #Accounting firms in nepal #Accounting Service in Nepal #Bookkeeping Service in Nepal #Accounting and Bookkeeping Consultant in Nepal

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digitalgurkha · 6 years

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Business Environment in Nepal

Nepal is a landlocked country on the southern slope of the Himalayas. The geographical position of the country plays a significant role for its development as a business hub as it lies in between the world’s two giant economy - India and China.

For complete info on Business environment in Nepal click here Business environment in Nepal.

Economic Indicators of Nepal

Click here for complete info in this topic.

Why Nepal

Nepal is strategically located between two large and rapidly growing economies China and India, with easy access to markets of more than 2.6 billion people. Nepal has large pool of capable workers (out of total population of 28.98 million, 61% are of working age i.e.15-65 years). Nepal has relatively low cost of labor. Nepal is ranked 2nd after Bhutan among south Asian countries in the “Ease of Doing Business Report 2016” by the World Bank Group. Foreign investors are allowed 100% ownership of a company in a majority of sectors. Repatriation of capital and profits are allowed by law. Various bilateral investment protection and double tax avoidance arrangements are in place. Nepal has signed Bilateral Investment Promotion and Protection Agreement (BIPPA) with India, Finland, Germany, Mauritius, UK, and France. Similarly, Nepal has signed Double Taxation Avoidance Agreement with Austria, China, India, Korea, Mauritius, Norway, Pakistan, Qatar, Sri Lanka and Thailand. Compared to other countries in South Asia, Nepal offers the lowest tax burden in the region. Some of the reasons for comparatively high ROI in Nepal include: -

a. Huge investment potential in tourism, hydro-power, agriculture, and mine and mineral sectors; - Abundance of natural resources; - Maximum income tax rate of 25% and value added tax (VAT) of 13%; -

b. Income tax concession on profits from exports and interest income on foreign loans;

c. Withholding tax rate of 15% on royalties and technical & management fees; and

d. Customs, excise duties, and VAT levied on raw materials and auxiliary raw materials of export oriented industries is reimbursed to the exporter on the basis of the amount of exports within 60 days of application.

Nepal has open boarder access to India. Nepal has duty free access to China for around 8,000 products. Nepal has duty free access to US market for 66 types of garment items for 10 years starting from 2016.

Socio-Political and Economic Environment

(For complete info on Business environment in Nepal click here Business environment in Nepal.)

After the devastating earthquake in 2015, followed by a trade blockade with major investor India and political unrest, Foreign Direct Investments (FDI’s) commitments in Nepal dropped to an almost all time low. Now, two years later, due to increased stability, reforms and initiatives such as the Nepal Investment Summit last March, 2017 FDIs in Nepal are on the rise again. One of Nepal’s great strategic economic advantages is its close proximity to some of the largest and fastest growing economies in the world. Looking just at the three major Indian provinces that border Nepal, the combined population – and potential market – adds up to almost 400 million. Despite being close to huge potential markets, Nepal has not been able to take advantage of it, resulting in disappointing economic growth rates compared to other South Asian countries. For landlocked countries such as Nepal, cross-border trade is important. In order to increase Nepal’s trade between neighboring countries India and China, numerous steps have been taken to improve its connectivity. Both India and Nepal have several joint road projects along the border. Last year, the Nepal Government has prioritized construction, expansion and blacktopping of four road sections that link Nepal with the Chinese border. And more recently, Nepal has signed an agreement with China to build an $8 billion cross-border rail link. In addition to the investments in infrastructure, Nepal government has also started a new and long due round of policy reforms. Among these reforms are a new labor law, the Industrial Enterprise Act, the Special Economic Zone Act, the Agribusiness Promotion Bill and most importantly for foreign investors – the Foreign Investment Bill and amended Companies Act. All these changes will hopefully help Nepal live up with its potential and its ambitious aim to graduate from Least Developed Country status by 2022. For those who’ve been waiting to see how the wind would blow after the earthquake, now is the time to look ahead towards the bright future and jump on the bandwagon to do business in Nepal!

Potential Areas/Sectors for Investment in Nepal

(For Complete info in this topic click here Potential Area for Investment in Nepal)

a. Energy

Nepal is rich in water resources with multiple sources of water, including glaciers, snowmelt from the Himalayas, rainfall and groundwater. Nepal’s theoretical capacity of hydropower is around 80,000 MW, out of which 43,000 MW is estimated to be economically feasible. However, installed capacity is only 750 MW of electricity, despite the fact that peak domestic demand (suppressed) is well over 1,000 MW. Demand for electricity is increasing at 7–9% per year. Nepal is targeting graduating from least developed country (LDC) status to developing country status by 2022 and aims to become a middle income country by 2030. To meet its growth aspirations, Nepal will need to add 6,000+ MW (which requires investment of approximately USD 10 billion). Consequently, a lot of industries and infrastructure projects are in the pipe- line opening up huge opportunities. In addition to energy development, investment opportunities lie in the up gradation and expansion of distribution systems (for which investment of approximately USD 2 billion is required) and transmission systems (for which investment of approximately USD 4.45 billion is required). The Power Trade Agreement (PTA) signed with India has opened up a large market for exporting electricity to India. The SAARC Framework agreement on Energy Cooperation signed during the 18th SAARC Summit in 2014 will pave the way for the eventual formation of a regional energy market.

b. Tourism:

With the world’s highest mountain range, the Himalayas, and 8 of the 10 highest peaks in world, Nepal has long been popular among mountaineers, trekkers and adventure seekers. It also offers beautiful lakes, steep rivers and gorges, unique wildlife, historic monuments, impressive fine arts, significant religious sites and exotic cultures attracting a wide array of travelers for a variety of reasons. Nepal is also a destination for religious tourism and pilgrimages. Lumbini, the birthplace of Lord Buddha, and Pashupatinath and other Hindu pilgrimage sites are the main attractions for people following Buddhism and Hinduism. There are opportunities in developing tourism infrastructure (hotels, restaurants, roads, airports, etc). There is also great potential for expanding the market for meetings, international conferences and events (MICE). Plans to upgrade the current international airport are underway, which will increase the tourist traffic significantly. The expansion of existing tourism products and introduction of new and innovative products has potential to attract different types of tourists and extend their average length of stay.

c. Infrastructure

Only about 19% of roads in Nepal are all weather roads and 2 out of the 75 districts are still not connected by roads. Hence, there are many opportunities to expand the road network, for which the government is seeking to form public-private partnerships. Nepal’s main highways require expansion to accommodate the increase in traffic, which is another area for public-private partnerships. In order to cater to the needs of the growing population, the development of mass public transportation systems – bus-rapid transport (BRT), railways, monorails, airports has been prioritized. To finance these projects, the government is looking at public - private partnerships. Eight north-south corridors (roads) linking China and India through Nepal, a cross-border railway line connecting Kathmandu with China, five cross-border railway lines, ultimately connecting Kathmandu with India, a railway line along the East-West Highway, and cable cars in the hilly regions are planned.

(For Complete info in this topic click here Potential Area for Investment in Nepal)

d. Agriculture

Nepal’s geography, topography, water resources and ample supply of labor give Nepal a comparative advantage in agricultural production. Nepal’s economy is largely dependent on agriculture, which accounted for about 32% of GDP and absorbs about two- thirds of the labor market. Only 25% of the total land area is cultivable land; another 33% comprised of forest land and the rest is mountains. The lowlands of the terai region produce an agricultural surplus, which caters to the needs of the food-deficient in hill areas. The Agriculture Development Strategy 2014 recommends spending NPR 502 billion in 10 years. Nepal Government is currently focusing on the modernization, diversification, commercialization and marketing of the agriculture sector. Towards this, the government plans to make available agricultural inputs, such as irrigation, electricity, transportation and agro-credit. The Nepal Trade Integration Strategy 2010 focuses on the development of cardamom, ginger, honey, lentils, tea, noodles and medicinal herbs/essentials oil as priority export products. The Trade Policy 2015 reemphasizes the need to develop these products. Good opportunities exist in agriculture production; processing, packaging and branding. Also nontimber forest products, cardamom, ginger, aquaculture, vegetables, floriculture, tea, coffee and honey offer many opportunities. There are good opportunities in input markets (such as for seeds, nurseries, fertilizers, agricultural infra- structure and technology, and agriculture financing) and, due to favorable climatic conditions, the focus on high value organic crops is increasing.

e. Information and Communication Technology

Nepal’s ICT sector is one of the fastest emerging sectors in the country, with huge potential for growth in the coming years. All the services related to the ICT sector are open to foreign direct investment, except for media. For telecommunications, 80% foreign ownership is allowed. The Government of Nepal has identified IT and business process outsourcing (BPO) in the Nepal Trade Integration Strategy 2010 as one of the five priority potential export service sectors. The Trade Policy 2015 also reemphasizes the importance of developing this sector. As there are only two major telecommunications companies (NTC and Ncell) dominating the sector, there is room for new firms to enter the market. Foreign BPO companies can tap into the young English-speaking population and benefit from the cost advantages offered by the low wages and low establishment and operating costs. The time zone in Nepal is also favorable for companies looking to outsource from America or Europe. There are unmet needs for the use of ICTs in governmental agencies and the private sector.

f. Health and Education

Opportunities exist in developing education infrastructure, including upgrading and building educational institutions and even education cities (medical, IT, engineering, management etc.), for which the government is seeking to engage in private-public partnerships. Every year, thousands of students go abroad for further studies spending large sums of money. With more and better education institutions within country, this could be avoided. The government is also looking to develop health infrastructure, including modernization and increasing the capacity of health facilities and mobilizing privately-run hospitals by means of public private partnerships. In terms of pharmaceuticals, there are persistent shortages of quality medicines in the market presenting opportunities for manufacturers of pharmaceutical goods.

g. Financial Sector

Although the financial sector of Nepal is growing at a rapid pace, still 60% of Nepal’s population has no bank accounts and only 61% are served by formal financial institutions. Also, banking services are heavily concentrated in urban areas whereas 56% of the adults use banking products as compared to 36% in rural areas. Thus financial sector of Nepal still has a large untapped market for banking and financial services. Similarly, Nepal’s Insurance market has also huge potential as the penetration rate is only 1.31% in 2011.

(For Complete info in this topic click here Potential Area for Investment in Nepal)

h. Mines and Minerals

Nepal has an abundance of minerals used in industry and construction, including limestone (most abundant), coal, talc, red clay, granite and marble, gold, and precious and semi-precious stones (tourmaline, aqua- marine, ruby and sapphire). Recent studies have shown that Nepal may have 2.5 billion metric tons of cement grade limestone. Nepal has an estimated 5 billion metric tons of dolomite and 180 million metric tons of high grade magnetite. In recent times, the western part of Nepal has witnessed gas and oil seepage, confirming the presence of oil and natural gas in Nepal. About 10 petroleum and natural gas exploration sites have been identified so far. Nepal has more than 20 million metric tons of ore reserves in more than 80 locations. Copper occurs in Nepal in more than 107 locations.

Follow here for How to Setup Business in Nepal http://bizserve.com.np/wp-content/uploads/2017/12/DBIN-Part-2.pdf

#BusineeInNepal #investinnepal #BusinessEnvironmentInNepal

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digitalgurkha · 6 years

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Potential Area for Investment in Nepal

Here I’m going to write some Potential Area for Investment in Nepal. For Complete info in this topic click here Potential Area for Investment in Nepal .

(For Complete info in Current Investing Environment in Nepal click here Business Environment in Nepal )

a. Energy:

b. Tourism:

(For Complete info in this topic click here Potential Area for Investment in Nepal)

c. Infrastructure:

d. Agriculture:

e. Information and Communication Technology:

(For Complete info in this topic click here Potential Area for Investment in Nepal)

f. Health and Education:

g. Financial Sector:

(For Complete info in this topic click here Potential Area for Investment in Nepal)

h. Mines and Minerals:

Follow here for How to Setup Business in Nepal http://bizserve.com.np/wp-content/uploads/2017/12/DBIN-Part-2.pdf

#AreaToInvestInNepal #BusinessInNepal #InvestInNepal

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digitalgurkha · 6 years

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Foreign Direct Investment in Nepal

As being a personality from Business Sector in Nepal, I’m going to share you all the info, procedures along with the budget of investment and authority you will get involved on Foreign Direct Investment in Nepal. How one can invest in Nepal in new business or in an existing business. And at last I will suggest you the best Foreign Direct Investment Consultant in Nepal.

For Complete info about business related visa and policies in Nepal click here Business Visa in Nepal .

Let’s begin the talk (or Click here Foreign Direct Investment in Nepal if you want to gather complete info on FDI procedures in Nepal rather than reading my content)

MODE OF INVESTMENT IN NEPAL

Foreign Investment can be made in any industry in the following forms:

1. Establishing a new industry either with 100% foreign equity or as a joint venture with Nepalese or other foreign investors

2. Investing in shares (equity) of an existing industry

3. Reinvestment of the earnings derived from earlier investment

4. Investment made in the form of loans or loan facilities, and

5. Engaging in technology transfer in an existing industry

6. Investment with Machine and Equipment as a part of Equity

Note: Investment can be made either in cash or in the form of tangible / intangible assets, e.g. machinery and equipment.

APPROVING AUTHORITY FOR FOREIGN INVESTMENT:

(Click here for info in this section)

ESTABLISHING INDUSTRY WITH PROJECTS OF LESS THAN 10 BILLION NPR

a. Procedure:

1. Project Identification and Initial consultation at Department of Industries (DOI).

2. Application for foreign investment approval at DOI including all required documents.

3. Approval of foreign investment by DG or Investment Promotion Board as the case may be.

4. Issuance of foreign investment approval letter by DOI.

5. Incorporation of a Company with Office of Company Registrar by making application with required documents and payment of registration fee

6. PAN registration with Inland Revenue Department (IRD), change in PAN if required.

7. Opening of Bank Accounts

8. Application to Central Bank (NRB) for principle approval to bring FDI into Nepal.

9. Industry Registration at Department of Industries

10. Inflow of FDI and Application to NRB to Log the capital brought in the form of FDI

11. Environmental Assessment as per EPR if required under law.

12. Application for business license from concerned regulating authorities as applicable.

13. Commissioning of Industry

Expected Duration: 1 Month

b. Documents required for establishing a new industry with projects of less than 10 billion NPR:

· At DOI for FDI approval:

- Project Report / Feasibility Report in two copies

- Duly filled up online application form - Joint Venture Agreement (JVA), in case of more than one investor

- Citizenship certificate of local investor or Certificate of Incorporation, including Memorandum of Association and Articles of Association, shareholders register, tax clearance certificate if the local investor is a company

- Copy of passport of foreign investor or Certificate of Incorporation, including Memorandum of Association and Articles of Association if the investor is a company

- Board minute of foreign investor (company) to invest in Nepal

- Bio-data / Company profile of the foreign investor

- Financial Credibility Certificate (FCC) of the Foreign Investor provided by a home country bank or domiciled country bank

- Board Minute of the concerned Local or Foreign companies regarding investment or JV

- Authority letter from the concerned companies or individuals to carry out any necessary work on their behalf, if applicable

- Company Profile of the Foreign Company

· At Company Registrar Office for company registration:

- Online Application to obtain approval for Proposed Name of the company

- Application in prescribed format along with Approved Name of the company , Articles of Association and Memorandum of Association (two sets),

- Unanimous agreement between promoters, if any

- Promoters minute to register a company, if applicable

- FDI approval letter and JV if applicable from DOI

- Attested copies of citizenships of local shareholders

- Notarized copy of passport of foreign party or Certificate of Incorporation, including Memorandum of

- -Association and Articles of Association if the party is a company

· At IRD for PAN registration

- Board minute for registration

- Form dully filled up - Copies of company registration certificate

- Copies of Articles and Memorandum of Association

- Copy of rental agreement (office) with TDS deposit slip

· At NRB for FDI approval

- FDI approval letter from DOI

- Notarized Company Registration certificate of foreign company and certified copy of the same from Local Company as applicable

- Notarized Articles and Memorandum of Association of foreign company and certified copy of the same from Local company as applicable

- Tax registration certificate of Local company

- Copy of Industry Registration of Local company

- Commitment letter from Foreign investor, for not taking back the investment for 1 year

- Bank Statement of foreign bank of investor and proof of the Source of investment

- If Money is not coming at once then should submit the investment schedule starting with minimum NPR 5 million.

- Audit report of the Foreign Company as applicable (if more than one year of operation)

- Credit Information Bureau (CIB) report for not being black listed for Local Company

· At DOI for Industry Registration

- Dully online filled up form

- Copies of Company registration, Tax registration, FDI approval, Articles and Memorandum of Association

- Copies of the documents of the Foreign investor as required

(For all the info, click here Investing in Nepal )

PROCEDURE FOR ESTABLISHING INDUSTRY WITH PROJECTS OF 10 BILLION NPR OR MORE

a. Procedure

- Project Identification

- Initial consultations at Investment Board of Nepal (IBN).

- Application for foreign investment approval at IBN including all required documents.

- Approval of foreign investment by Investment Board. (Board may approve by direct negotiation if there are no other applicants or the project cost is 20 billion or more.)

- Issuance of foreign investment approval letter by Investment Board.

- Incorporation of a Nepalese Company at Office of Company Registrar by making application with required documents and paying required fee.

- Income Tax/VAT registration at Inland Revenue Department (IRD) and opening of Bank Account.

- Application to NRB for approval to bring FDI into Nepal

- Industry Registration at Department of Industry

- Inflow of FDI and application to NRB to log the capital brought in the form of FDI

- Environmental Assessment as per EPR (Environment Protection Rules), if required under law.

- Application for business license from concerned regulating authorities.

- PDA/PIA negotiations.

- Commissioning of Industry

Expected Duration: 3 month

(Click here Foreign Direct Investment in Nepal if you want to gather complete info on FDI procedures in Nepal rather than reading my content)

b. Documents required for establishing a new industry with projects of NPR 10 billion or more:

* Documents Required at IBN

- Preliminary Feasibility Report (must include following information)

· Project Design o Estimated Cost of the Project

· Proposed Financial Resources

· Business/Operation Plan

· Preliminary EIA Report

· Proposed Revenue model

· Proposed Royalty / Fee to Government

- Joint Venture Agreement (JVA), in case of more than one investor

- Citizenship certificate of local investor or Certificate of Incorporation, including Memorandum of Association and Articles of Association, Shareholders register, tax clearance certificate if the local investor is a company

- Notarized Copy of passport of foreign investor or Certificate of Incorporation, including Memorandum of Association and Articles of Association if the party is a company

- Bio-data / Company profile of the foreign party

- Financial Credibility Certificate (FCC) of the Foreign Investor provided by a home country bank or domiciled country bank

- Authority letter from the concerned companies or individuals to carry out any necessary work on their behalf, if applicable

Documents required at Company Registrar Office, NRB, IRD, DOI are more or less similar as explained above (in case of projects of less than 10 billion NPR).

Click to get info about the Best Business Consultant in Nepal who can help / guide you out in setting up your business.

INVESTING IN AN EXISTING INDUSTRY IN NEPAL

a. Procedure

1. Industry Identification and Initial consultation at Department of Industries (DOI).

2. Application for foreign investment approval at DOI including all required documents

3. Approval of foreign investment by DG or Investment Promotion Board as the case may be based on the amount of the investment.

4. Issuance of foreign investment approval letter by DOI.

5. Approval of Nepal Rastra Bank to bring FDI into Nepal.

6. Invest in the existing Nepalese company by share transfer or further issue of shares; or invest in the form of loan to the Nepalese company.

7. Industry Registration with Department of Industries or change of the structure of industry from Cottage and Small industry office to DOI.

8. Certification of investor as new shareholder of the company from OCR

Expected Duration: 20 days

b. Documents Required for investing in an existing industry

· At DOI

- Proposed Business Plan and Shareholding Structure

- Request from the Investor

- Request from the Seller

- Share Purchase Agreement

- Copy of minutes of the Board meeting of local company regarding inclusion of foreign investor into the company

- Copy of minutes of Board meeting, Certificate of Incorporation and company profile of the foreign party if the party is a company

- Notarized copy of passport and Bio-data of foreign investor, if investor is an individual

- Copy of the Company Profile and Passport of the Authorized Representative if investor is a company

- Financial Credibility Certificate of the Foreign Investor provided by a bank

- Current Share Holders’ List as certified by the Company Registrar’s Office

- Latest Auditor’s Report

- Tax registration and Tax clearance certificate of local company

- Authority letter(s) from the companies concerned to sign on behalf of the companies

· At NRB for FDI approval

- FDI approval letter from DOI

- Company Registration certificate

- Articles and Memorandum

- Tax registration certificate and Tax clearance certificate

- Credit Information Bureau (CIB) report for not being black listed for Local Company

- Financial Credibility Certificate of the Foreign Investor provided by the bank

- Payment Schedule if the investment is coming in phases/tranches

- Notarized Passport copy of Investor or Passport of the Authorized Representative if investor is a company

- Registration documents of the investor, if investor is a company

- Audit Report of the foreign company if investor is a company

- Letter of Commitment from Foreign investor

- Letter of declaration of source of investment from foreign investor

Click to get info about the Best Business Consultant in Nepal who can help / guide you out in setting up your business.

Read here for Complete Procedure to setup business in Nepal with different budget http://bizserve.com.np/wp-content/uploads/2017/12/DBIN-Part-2.pdf

#Foreign Direct Investment in Nepal #Foreign Direct Investment Consultant in Nepal #FDI in Nepal #FDI Consultant in Nepal

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digitalgurkha · 6 years

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Foreign Direct Investment Consultant in Nepal

As being personality belongs to Business Sector I’m going to share from my depth research about the Top Foreign Direct Investment Consultant in Nepal.

Foreign direct investment is critical for developing and emerging market countries so Foreign Direct Investment in Nepal is critical. The developed world also needs cross-border investment. Economic transformation can be materialized with the support of global investors. Any investor would like to secure his mega investment, and decision in an effective and efficient manner to safeguard such investment requires expertise and experience. So with my experience I’m writing here a brief info about one of the biggest Business Supporting International based corporate Reanda Bizserve Nepal, here I’ve discussed about what and how they provides the range of services to their clients in the following area of FDI in Nepal.

Let’s begin the talk (or Click here Foreign Direct Investment Consultant in Nepal for complete info about Reanda Bizserve Nepal)

· Entry Strategy

They suggest, plan and implement entry strategy for your business by doing a detailed analysis of the regulatory environment, evaluate alternative entry options and decide best fit option.

· Location Study

They conduct location studies by evaluating the relative advantage of different locations based on well-defined multi perspective geographic, political, economic parameters, including fiscal incentives, rebates and tax concessions.

(Click here Foreign Direct Investment Consultant in Nepal for complete info about Reanda Bizserve Nepal)

· Regulatory Approvals

They assist their clients to get approvals from all government bodies whether it is for approval of FDI, or incorporating a company or setting up an office, or starting business operation. An illustrative list of government bodies from where approval may be required is given below:

- Department of Industries (DOI)

- Nepal Rastra Bank (NRB)

- Investment Board of Nepal (IBN)

- Company Registrar’s Office (CRO)

- Inland Revenue Department (IRD)

- Department of Food Technology and Quality Control (DFTQC)

- Department of Drug Management

- Department of Mines and Geology

- Department of Electricity Development

- Ministry of Education

- Civil Aviation Authority of Nepal (CAAN)

- Nepal Telecom Authority (NTA)

· Secretarial Support

Assisting the management in drafting and maintaining statutory records, minutes of meetings (Annual, Shareholders, Board), appointment and resignation of key personnel, increase / reduction of capital, dividend declaration, change of registered office etc. and if required, assist in closure of office and liquidation of entity.

· Project Management

Project managing the factory establishment in Nepal, including identification of industrial location, necessary clearances from government bodies and facilitating relationship with key service providers and contractors, all matched and monitored against pre-defined milestones.

· Start-Up Support

They organize the office infrastructure and manpower during the ‘in transit period’ of a company when it is in the process of setting up, including acting as a nominee resident directors.

(For complete info, procedures along with the budget of investment and Governmental authorities in Foreign Direct Investment in Nepal click here Foreign Direct Investment in Nepal)

#foreign direct invesment in nepal #FDI in Nepal #Foreign Direct Consultant in Nepal #FDI consultant in Nepal

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digitalgurkha · 6 years

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Types of Taxes in Nepal

https://bizserve.com.np/taxation-responsibilities-of-the-ventures/

#taxes in nepal #types of business taxes in nepal

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digitalgurkha · 6 years

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Taxation System in Nepal

http://bizserve.com.np/wp-content/uploads/2017/12/DBIN-Part-4.pdf

#Taxation system in nepal #taxes in nepal #business taxes in nepal

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digitalgurkha · 6 years

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Type of Taxation System in Nepal

)We may hate taxation, everybody does. But we know that we can’t avoid it either. And, especially if you are an aspiring start-up venture with long-run vision and looking for scaling-up through external financing, you should never avoid paying taxes. I would tell you why in the next article, but for now, I want to drag your attention towards the tax-responsibilities of start-up ventures registered as a company. For full info click here Types of Taxation System in Nepal

There are three types of taxes that a company needs to pay

1.Tax Deducted at Source (TDS) Return File:

TDS is amount deducted from the payment made in course of business, employment or investment transactions by the company to the various recipients. Such transactions include, but are not limited to, payment of salaries, interests, rents, royalties, general insurance, dividends, other services etc. That suggests, if the company makes payment for above mentioned reasons, it should do so only after deducting a certain percentage from the total amount and shall deposit the deducted amount to the government coffers. The applicable TDS rate ranges from 1.5% to 15% depending upon the nature of transaction.

In order to return file the TDS, company must prepare a monthly TDS statement detailing the transactions; recipients of payment, amount and TDS amount. Such statement along with the TDS amount should be submitted to the concerned Inland Revenue Office (Tax Office) until the 15th day of the following month. A TDS statement need not be submitted for months in which no TDS was deducted.

2. Value Added Tax (VAT) Return File:

VAT is probably the most ‘recognized’ form of taxation in Nepal as almost all the businesses with annual sales revenue is Rs. 20 lakhs and above shall registered in VAT and file periodic VAT return. Additionally, the ventures with less than that revenue threshold can also voluntarily register for VAT. Except for the ventures with No or Low sales revenue, it is advisable for the start-ups to get themselves registered in the VAT.

Once registered, the company must collect Sales Book, Purchase Book, and VAT Account and collect VAT on sales and provide customer with tax invoice. The tax invoice will require the name and address of the seller and the purchaser, the seller`s PAN number and invoice number, the date of the transaction and a description of the sale including the number of items purchased, the unit cost of each item and a mention of any discounts given.

The tax invoice must be prepared in three copies and the first copy should be clearly identified as a tax invoice. The original copy is to be given to the purchaser; the second copy is to be retained for audit purposes while the bottom copy is for use by the seller in preparing a record of the transaction.

The difference of VAT collected on sales to VAT charged on purchases determines the amount a company must deposit to the government. Company must submit VAT return and pay tax within the 25th day of the following month. In general, VAT are payable monthly. However, if the company’s monthly transaction in very low, it can file VAT returns on bi-monthly or quarterly basis.

( For full info click here Types of Taxation System in Nepal )

3. Income Tax:

Income tax here referred to the corporate tax that the venture needs to pay on its profit-income. No venture is exempt from paying income tax. In Nepal, income tax is paid on the basis of venture’s own tax assessment unless the tax office find reason to review, alter or even investigate on such tax declaration.

Venture compulsorily needs to file advance tax return (Tax Payable) three times a year in following installments,

· by the end of the month of Poush 40% of the estimated annual tax payable

· by the end of the month of Chaitra 70% of the estimated annual tax payable

· by the end of the month of Ashad 100% of the estimated annual tax payable

The Inland Revenue Office may verify on the tax assessment provided by the venture. In addition, the office might opt to conduct a full-fledge assessment (tax audit) on the suspicion of the fraud, any time within four years.

( For full info click here Types of Taxation System in Nepal )

#TypesOfTaxesInNepal

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digitalgurkha · 6 years

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Complete Taxation System in Nepal

Here lets talk about complete Taxation system in Nepal. Nepal levies a wide variety of taxes, including income tax (corporate income tax and personal income tax), value added tax, excise duty, customs duty, property related tax (land registration tax, property transfer tax) and others like stamp duty. For complete info click here Complete Taxation System in Nepal.

A. Direct Taxes

Income Year:

Mid-July of one year to Mid-July of another year (Shrawan to Ashad as per Nepalese Calendar)

Corporate Income Tax

The taxability of the income of a person in Nepal is based on two broad principles. Any resident person generating income or receiving any payment from outside Nepal is taxed on the basis of ‘Residence Principle’. Similarly, in case of non-resident person generating income or receiving any payment from various income heads viz. employment, business, investment or win fall gain, it is taxed in Nepal on the basis of ‘Source Principle’.

An entity is resident in Nepal if it is registered / formed as per the laws of Nepal.

Tax Rate

Statutory corporate income tax rate on resident person is 25%. However, entities operating banking and General Insurance Business, dealing petroleum products, producing cigarettes, cigars, liquors and other related products are subject to 30% tax rates. Similarly, 20% income tax rate is applicable to

- Special Industries (Manufacturing industries specified in Industrial Enterprises Act)

- Entities operating road, bridge, tunnel, rope-way or overhead bridge upon construction

- Entities operating trolley bus or tram - Cooperatives other than fully exempt from tax

- Income from export

- Entities constructing public infrastructures on BOOT (Build-Own-Operate-Transfer) model

- Entities involved in construction of Electricity Powerhouse, Production and Transmission lines

Amount repatriated by Foreign Permanent Establishment (FPE) of a Non-Resident is subject to tax at the rate of 5%.

Taxable Income

Taxable Income = Total Income – Exempted Income – Deductions – Unabsorbed Losses

Total Income

Income means Income from Employment, Business, Investment or Win fall gain and includes the Total Income derived as per Income Tax Act, 2002

For details follow this small informative link http://bizserve.com.np/wp-content/uploads/2017/12/DBIN-Part-4.pdf

Deductions

General Deduction

Any expenses incurred by a person in connection with generation of income from business or investment during an Income Year are allowed as deduction.

Interest

Any interest incurred by a person from the borrowed money in connection with generation of income from business or investment during an Income Year is allowed as deduction.

Cost of Trading Stock

The cost of trading stock calculated either on first-in-first out basis or weighted average cost basis is allowed as deduction.

Repair and Maintenance Expense

Repair and Maintenance Expense of depreciable asset, owned and used by the person, incurred in connection with generation of income from business or investment during an Income Year subject to maximum of 7% of depreciation base at the closing of the year is allowed as deduction. The limit is not applicable to Airline Company if it is within the parameter of Civil Aviation Authority. Further, the amount or part thereof, which is in excess of limit, can be added to the depreciation basis prevailing in the beginning of subsequent Income Year, of the pool to which it relates.

Pollution Control Cost

Pollution Control Cost incurred in connection with conducting the business during an Income Year subject to maximum of 50% of adjustable taxable income from all business conducted by the person is allowed as deduction. The amount or part thereof, which is in excess of limit, can be capitalized in the asset in the beginning of subsequent Income Year and depreciation is allowed subsequently.

Research and Development Cost

Research and Development Cost incurred in connection with conducting the business during an Income Year subject to maximum of 50% of adjustable taxable income from all business conducted by the person is allowed as deduction. The amount or part thereof, which is in excess of limit, can be capitalized in the asset in the beginning of subsequent Income Year and depreciation is allowed subsequently.

Deprecation

Depreciation of depreciable asset, owned and used by the person, in connection with generation of income from business or investment during an Income Year is allowed as deduction. Depreciation is allowed as per written down value (WDV) basis method and depreciable assets are categorized into various pools, the rate of depreciation is prescribed by Tax Authority as follows

Accelerated Depreciation of 1/3 of applicable rate is also available in case of following entities

- Special Industries

- Hydro Power and Power Generation

- Tram and Trolley

- Export Oriented Industries

- Entities engaged in infrastructure development under BOOT scheme

- Co-operative registered under Co-operative Act (Only for tax exempt)

Non-Deductibles

Any expense which is not related to generation of income is not allowed for deductions. Further, expense which is of personal nature is not deductible.

Losses Carried Forward

Losses can be carried forward up to seven years from the year of occurrence. However, in case of special industries like entities dealing in petroleum products, BOOT projects, Projects involved in Electricity Power House, Generation and Transmission are allowed to carry forward up to twelve years. In case of long term contract obtained from international bidding losses can be carried back.

Deemed Taxable Income

If a business cannot provide complete and accurate information on costs and income while calculating taxable income, the Tax Authority has right to deem and assess the taxable income according to laws.

Foreign Tax Credit

In case that a resident person has paid overseas income tax on its taxable income derived from sources outside Nepal, the income tax paid overseas can be adjusted against its tax payable in Nepal. However, the adjustable amount of overseas income tax cannot exceed the amount of income tax otherwise payable in Nepal in respect of non-Nepal sourced income.

Tax Avoidance Scheme

If a person makes any arrangement with the purpose of avoiding or reducing tax liability, Tax Authority may, for the purpose of determination of tax liability, re-characterize the arrangement or part of it. Similarly, if a person does any transaction with a purpose to reduce tax liability entering into ‘Transfer Pricing’ or ‘Income Splitting’ arrangement, Tax Authority has the power to re-characterize and assess the tax.

Personal Income Tax

An individual is resident in Nepal if he resides for a period of 183 days or more in 365 consecutive days. A person who is not resident of Nepal is non-resident individual. Income of an individual resident is taxed on progressive rate as follows

The following amounts are deductibles.

- Contribution to Retirement Payment up to maximum of NPR 300,000

- Donation to tax exempted entities up to maximum of NPR 100,000

- Insurance premium up to NPR 20,000

- Remote area allowances up to maximum of NPR 50,000

Further, medical tax credit up to maximum of NPR 750 is allowed and remaining can be carried forward. Additionally, 10% tax rebate is allowed to female individual.

Withholding Taxes

Following Advance Taxes are applicable:

Gain on Sale of Shares

- In case of sale by a natural person - 5% - Listed Company, 10% - Unlisted Company

- In case of sale by any other person - 10% - Listed Company, 15% - Unlisted Company.

However, normal tax rate is applicable to a person other than natural person and advance tax paid can be allowed to set off from final tax liability.

Gain on Transfer of Land & Building

Gain on transfer of land or land & building on transaction exceeding NPR 3 million (to be collected by land revenue office at the time of registration) in case of natural person

- Disposal of land or land & building owned for more than 5 years – up to 2.5%

- Disposal of land or land & building owned up to 5 years – up to 5%

- In other case – normal tax rate applicable

Change of Control

Where there is change of 50% or more in the underlying ownership of an entity as compared with its ownership 3 years previously, the entity shall be treated as disposing off any assets and any liabilities owned by it. Where there is change in ownership during the Income Year of an entity, the parts of the Income Year before and after the change in ownership are treated as separate Income Years.

Compliance Requirement

Income Tax Return

Within three months from the end of Income Year. If application is made to Tax Office for extension, IRD may extend such notice for maximum of three months.

Advance Tax Return

Based on estimated tax liability

- Within Mid-January (Poush end) of Income Year (First Installment) – 40% of Tax Liability

- Within Mid-April (Chaitra end) of Income Year (Second Installment) – 70% of Tax Liability

- Within Mid-July (Ashad end) of Income Year (third Installment) – 100% of Tax Liability

Tax Assessment

Assessment system is based on Self-Assessment. However, an assessment under Self-Assessment scheme may be subject to review and amendment by Tax Authority which can be performed within four years from the date of submission of Income Tax Return.

Advance Ruling

If there is ambiguity in application of any issue as per Income Tax Act, there is provision of making application for advance ruling to IRD and the instruction issued by IRD is binding to the applicant.

Appeal

If the taxpayer is not satisfied with the decision of amended assessment by Tax Authority, the taxpayer has a right to apply for administrative review by depositing one third of disputed amount and further to Revenue Tribunal by depositing half of principal portion of disputed amount and full portion of fines and penalties.

B. Indirected Taxes

VAT

Applicability:

VAT is applicable on supply of goods or services;

- supplied into Nepal,

- imported into Nepal, and

- exported from Nepal

Some goods or services which are of basic necessities and agro-products are exempted and some are zero rated (export of services)

Tax Rate - Single rate 13%

Registration

Every person supplying the goods crossing threshold of NPR 5 million and supplying services or goods & services both crossing the limit of NPR 2 million are required to be registered under VAT.

Taxable Value

Taxable Value means the price the supplier receives from recipient including expenses related to transportation and the amount of profit plus excise duty, ownership fee and other taxes but excludes discount, commission or other similar commercial rebates.

VAT Records

Purchase book, Sales Book and VAT records, either manual or computerized, are the basic records to be maintained by a registered person.

VAT Credit and Refund

VAT paid on purchase of raw materials and expenses on production of finished goods are allowed to take credit within one year from the date of transaction. VAT credit is allowed for goods or services exported out of country and charged at zero rate. Input tax credit of a tax period which could not be adjusted against next six consecutive months, the taxpayer can claim the refund. Similarly, in case of more than 40 percent of export out of total sales in a tax period is eligible for refund of Such excess tax paid in the same tax period. Such refund shall be made within 3 years from the end of tax period.

VAT Return

Every registered taxpayer is required to submit VAT return within 25 days from the end of Nepalese Calendar month. However, certain industries like publishing houses and brick industry can opt for quarterly submission.

Facilities

Bank guarantee facility is available for VAT payable on purchase of raw materials and services for those industries exporting more than 40% of its production during previous 12 months.

Tax Assessment

Assessment system is based on Self-Assessment. However, an assessment under SelfAssessment scheme may be subject to review and amendment by Tax Authority which can be performed within four years from the date of submission of VAT Return.

Advance Ruling

If there is ambiguity in application of any issue as per VAT Act, there is provision of making application for advance ruling to IRD and the instruction issued by IRD is binding to the applicant.

Appeal

Excise Duty

Applicable Act: Excise Act 2002 & Excise Rules 2003 and amendment made by Finance Act from time to time.

Applicability: Excise Duty is applicable to goods/services produced/imported into Nepal. Relaxation and exemption are mentioned to certain goods produced in Nepal.

Tax Rate: Specific to individual item based on specific rate or ad-valorem basis.

Valuation: On production – Factory Price and On Import –Value for custom purpose plus custom duty

Licensing: No one can manufacture, import, sale or store a product without taking license. License taken is valid for one year and has to be renewed by paying renewal fee.

Excise Duty Credit: Excise duty paid on purchase of raw materials and auxiliary materials allowed. No excise duty credit is allowed to packaging materials.

Management System: Physical Control System – in case of liquor, cigarette and tobacco. Self-Removal System – in case of other goods.

Facilities: Bank Guarantee Facility is provided to goods imported through boned warehouse. Full exemption of excise duty is provided in case of export. Similarly, full exemption is provided to industries producing goods using scrap more than 90%.

Records: Records of excisable goods purchased, produced, sold, released and balance of stock as certified by excise duty officer.

Time of Payment:

Excise Return:

Within 25 days from the end of Nepalese Calendar month.

Advance Ruling:

If there is ambiguity in application of any issue as per Excise Act, there is provision of making application for advance ruling to IRD and the instruction issued by IRD is binding to the applicant.

Appeal:

Custom Duty

Applicable Act: Customs Act 2007 & Customs Rules 2007 and amendment made by Finance Act from time to time.

Applicability: Custom Duty is applicable to import and export of goods and services. Tax Rate: Specific to individual item (as prescribed in tariff on the basis of HS code)

Taxable Value: Based on transaction value determined as per General Agreement on Tariff and Trade 1994 and valuation principles mentioned in Customs Act.

Facilities: Bank Guarantee Facility is provided to export industries and Duty Free Shops. Further, certain custom exemption is provided to those industries established in Special Economic Zone (SEZ). Special exemption/concession is provided to those goods if imported from neighboring countries like China, India. Also, concessional tariff rate applicable for the import of those goods which are imported under bilateral/multilateral agreement.

Post Clearance Audit (PCA): Custom Authority can make PCA after clearance of goods as required.

Appeal and Review: If an importer is not satisfied with the valuation made by Custom Authority, he can apply to Valuation Review Committee.

Other Taxes

Health Service Tax: 5% of health service invoices of all entities providing health services except for those provided by Government of Nepal and Community Hospitals shall be charged.

Education Service Fee: 1% on monthly fee and admission fee (Applicable to private sector schools providing more than higher level secondary education)

Telecommunication Service Charge: To be charged from customer 11% of the collected amount.

Telephone Ownership Fee: Rs. 1,000 per connection in case of postpaid and 2% of value of SIM and Recharge Card

Infrastructure Tax: Rs. 5 per liter for import of petrol, diesel and aviation fuel.

Road Repair and Improvement Fee: Rs. 4 per liter in petrol and Rs. 2 per liter in Diesel

Pollution Control Fee: Re. 0.50 per liter in petrol and diesel

Casino Royalty: Annual License Fee for Casino – Rs. 30 million. Annual License Fee for Casino using only modern equipment and machines – Rs. 7.5 million

[ For full info click here Taxes in Nepal]

#TaxesInNepal

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