3. Personal Income Tax(“PIT”)

1.1.     General The Income Tax Act also levies income tax on individuals. The scope of the taxable income of individuals depends on the residential status of such individual as per the Income Tax Act.  Resident individuals are subject to tax on their worldwide income derived from employment, business or investment, Read more…

Nepal Taxation Overview

I. Introduction to the tax system in Nepal Taxes are imposed under various legislations specific to a particular kind of tax. The major tax legislations in Nepal are as follows: Income Tax Act 2002 VAT Act 1996 Excise Act 2002 Customs Act 1962 Finance Act of each year, which supplements Read more…