npl977 >
NE
Economy
Khabarhub Nepal News epardafas.com English.MakaluKhabar.com clickmandu
8 sources · 14 articles
Started 17 hours ago · Updated 10 hours ago

Nepal's Budget 2083/84: Finance Minister Announces Major Tax Reforms

Photo · english.makalukhabar.com

Finance Minister Swarnim Wagle has announced significant tax reforms in Nepal's federal budget for fiscal year 2083/84, including an increased income tax threshold and a final capital gains tax provision. The budget also streamlines customs duties and abolishes excise duties on 360 goods as part of efforts to simplify the tax system.

  • The taxable income limit for the minimum 1% tax rate has been raised from Rs 500,000 to Rs 1 million.
  • Capital gains tax on profits from shares and other capital assets will now be final, simplifying investor clarity.
  • The customs duty structure has been reduced from 11 tariff slabs to 7 to streamline import taxation.
  • Excise duties have been abolished on 360 goods, marking a significant removal of taxes to ease production and consumption costs.
  • The maximum income tax rate has been reduced by 10 percentage points to 29 percent.

Timeline (14)

Share ↗
Related
Swarnim Wagle Federal Parliament

More in Economy

See all ›
Nepal's Finance Minister Presents FY 2083/84 Budget Focused on Economic Revitalization Nepal's Finance Minister Presents FY 2083/84 Budget Focused on Economic Revitalization

Finance Minister Dr. Swarnim Wagle presented the Executive Budget Proposal for the fiscal year 2083/84 to a joint session of the Federal Parliament. The budget emphasizes economic revitalization, boosting private sector confidence, increasing capital spending, and expanding employment opportunities, with an estimated size between Rs 1890 to Rs 2000 billion.

20 articles · 10 hours ago
Government Finalizes Fiscal Year 2083/84 Budget with Focus on Economic Reform and Private Sector Growth Government Finalizes Fiscal Year 2083/84 Budget with Focus on Economic Reform and Private Sector Growth

The Nepali government is finalizing the budget for fiscal year 2083/84, set to be presented by Jestha 15, with a strong emphasis on fostering a private sector-friendly investment environment and implementing economic reforms. Key policy priorities include reducing acquisition and tax-related hurdles, enhancing the one-door service system, and increasing investment in industrial infrastructure to lower costs. The Finance Minister has described the upcoming budget as the commencement of a new, transformative phase of economic reform.

5 articles · 10 hours ago
Nepal Unveils 'Investment Express' and Labor Pacts to Boost FDI Nepal Unveils 'Investment Express' and Labor Pacts to Boost FDI

The Nepali government has announced plans to launch an "Investment Express" system and sign new labor agreements with other countries to attract foreign investment and streamline business procedures. Finance Minister Dr. Swarnim Wagle presented these initiatives as part of the federal budget, which also includes mandatory skill-based training for Nepali workers going abroad.

4 articles · 10 hours ago
Nepal Unveils Sovereign Wealth Fund and Eases Foreign Investment Exit Rules Nepal Unveils Sovereign Wealth Fund and Eases Foreign Investment Exit Rules

Nepal's Finance Minister, Dr. Swarnim Wagle, announced the creation of a Sovereign Wealth Fund, to be capitalized by a portion of the nation's foreign exchange reserves, and the elimination of prior central bank approval for foreign investors to repatriate profits or capital. These measures, presented as part of the federal budget for Fiscal Year 2026/27, aim to strengthen capital mobilization and improve the investment climate.

9 articles · 10 hours ago