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8 results for "Finance Ministry"

Nepal Cabinet Announces Recovery Package After Bhotekoshi Flood, Ministers Give One Month’s Salary

The Cabinet has directed the Finance Ministry to prepare a Business Recovery Package for people and businesses affected by the Rasuwagadhi-Bhotekoshi flood, while the Prime Minister and all ministers will contribute one month’s salary to the disaster relief fund. The government also approved in principle the G2G purchase of 25,000 metric tons of DAP fertilizer from India.

Aug 28

Gen Z Victim Families And Seriously Injured Get 100% Vehicle Tax Exemption For Self Employment

The Nepal government has announced a 100% exemption from import taxes and duties on qualifying vehicles for officially recognized families of Gen Z movement martyrs and people classified as seriously or very seriously injured, if the vehicle is purchased for self-employment. The exemption applies to petrol or diesel vehicles with a transaction value of up to Rs 15 lakh and electric vehicles worth up to Rs 20 lakh, and is available only during FY 2083/84, or 2026/27.

Aug 25

Finance Minister Swarnim Wagle Sees Need To Amend Nepal Rastra Bank Act To Make Central Bank More Proactive, Accountable And Effective

Finance Minister Swarnim Wagle has called for amendments to the Nepal Rastra Bank Act to make the central bank more proactive and accountable, while supporting a seven member board, two deputy governors and wider expert representation.

Aug 5

Nepal Government Plans to Raise VAT-Free Electricity Consumption Limit to 150 Units, Offering Relief to Millions of Households

Nepal Government is preparing to increase the VAT-free electricity consumption limit from 50 to 150 units. The proposal could benefit over 46 lakh households by reducing monthly electricity bills.

Aug 4

Government Signals Duty Review As Industries Push For Fairer Raw Material Tax

Finance Minister Dr. Swarnim Wagle has assured industrialists that the government is ready to review taxes and customs duties on raw materials and finished goods as part of a wider economic reform push.

Jul 29

Nepal Scraps 3% Education and Health Tax—But How Will Citizens Get Their Refunds?

Nepal’s Cabinet has withdrawn the three percent equity fees imposed on private education and healthcare services after strong public criticism that the charges would increase costs for students, parents and patients. Taxes collected after the measure took effect on July 17 will be refunded within 50 days, although the government has not yet publicly explained the detailed claim process.

Jul 23

Finance Minister Wagle Says He Will Quit Public Life If EV Tax Misuse Is Proven

Finance Minister Dr Swarnim Wagle has denied allegations of EV tax information leakage, saying he will quit public life if any misuse is proven as authorities investigate BYD vehicle imports and customs clearance.

Jun 11

Nepal Government Spends Only Rs 1.13 Arba on Development in 10 Months, Just 27.91% of Annual Capital Budget Used

Development Projects Still Moving Slowly as Government Uses Less Than 28% of Capital Budget Despite Flexible Spending Rules

May 15