TDS (tax deducted at source, अग्रिम कर कट्टी) is the tax a payer deducts when making certain payments and deposits with the Inland Revenue Department (IRD). For FY 2083/84 the main rates are: 1.5% on service fees paid to VAT-registered persons and on contracts above Rs 50,000 15% on service fees, commissions and…
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What comes to your mind when we say "accounting software"? A software to make it easy for the accountants to manage accounting? Yes, that's been the case so far because almost all accounting software have been developed with the accountant or accounting firm as the target audience. And you need to hire an accountant…
As we embark on the fiscal year 2081/82, it is imperative for all businesses and individuals to stay abreast of the latest regulatory requirements and compliance procedures. Adhering to these guidelines is not only a legal obligation but also a vital component of ensuring smooth and efficient business operations…
Yes. In Nepal your VAT number is the same as your PAN. A business gets one 9-digit Permanent Account Number from the Inland Revenue Department (IRD). If it later registers for VAT, the same PAN is used as its VAT registration number; no separate VAT number is issued. The difference is what the registration lets you…
Timely and accurate tax compliance is a cornerstone of responsible business practices. Timely tax payments and using the correct revenue codes not only ensure legal compliance but also contribute to the nation's development. Adhering to the updated revenue codes released by the Inland Revenue Department of Nepal<span…
In a commendable initiative to recognize fiscal responsibility and contribution to the national revenue, the Nepalese government, led by Finance Minister Dr. Prakash Sharan Mahat, has honored the highest taxpayers in 16 different categories for the fiscal year 2079/80. This prestigious event, coinciding with National…
Navigating the tax system is pivotal for businesses operating in Nepal. This article offers an extensive overview of Nepal's tax framework, essential for both local and foreign businesses. It covers various tax types, compliance requirements, and incentives, providing a roadmap for effective tax management in the…
Nepal's evolving economic landscape presents various tax incentives and exemptions designed to stimulate business growth and attract foreign investment. These fiscal measures, ranging from sector-specific tax breaks to general incentives, play a crucial role in reducing the financial burden on businesses and enhancing…
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