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Started 20 hours ago · Updated 19 hours ago

Nepal's Finance Minister Announces Customs Duty Reductions and Tax Reforms

Photo · english.ratopati.com

Finance Minister Dr. Swarnim Wagle announced a reduction in customs duties on 273 types of industrial raw materials as part of the fiscal year 2026/27 budget. The revised tariff structure ensures duties on raw materials are at least one tier lower than on finished goods, aiming to boost domestic manufacturing. Additionally, the government is simplifying business exit procedures and easing restrictions on outbound foreign investment.

  • Customs duty tiers have been consolidated from 11 to 7.
  • Excise duty on 360 goods has been abolished.
  • The personal income tax limit has been increased to Rs. 10 lakh annually for individuals.
  • The government aims to exit the FATF grey list by strengthening financial governance and regulatory compliance.
  • Goods and services worth Rs 88.22 billion were exported via Birgunj checkpoint in the first 10 months of the current fiscal year.

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