Taxation
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, while non-residents are only liable for income tax on their net income earned or sourced in Nepal. 1.2. Residential Status An individual, irrespective of his Read more…