Extensive changes in the tax system by the government through the budget: Abolition of some taxes and fees
-
Media Baaji
- Sun, 31 May 2026
Kathmandu. With the aim of providing relief to citizens and businessmen through the budget of the next financial year, the Government of Nepal has canceled some of the taxes and fees imposed in the past and has significantly reduced some of them. These new arrangements have been introduced in the tax system to make the tax scope practical and encourage domestic production and digital economy.
Petroleum tax adjusted to green tax, gold luxury duty removed
According to the new system, infrastructure development tax of Rs 10 per liter and road maintenance and improvement tax of Rs 4 per liter have been completely abolished. However, the tax levied under both these headings in the past has now been adjusted to 'Green Tax' and the rate has been slightly increased.
Similarly, the government has completely removed the 2% luxury tax imposed on the sale of gold and gold jewelery to provide relief to consumers. Now, instead of that, only 0.5 percent will be charged as 'Skill Promotion Fee'.
Express
Related News
Parliamentary committee directive to government to implement tracking system on gas cylinders
Kathmandu. The Committee on Industry and Commerce and Labor and Consumer Affairs of the House of Representatives has instructed the government to use modern technology and implement an effective tracking system for the consumption, management and...
3 million more contributors to the Social Security Fund, the contribution amount has exceeded 1 trillion 16 billion
Kathmandu. A total of 1 trillion 16 billion 71 crore 89 lakh 50 thousand 525 rupees has been contributed to the social security fund. The contribution amount has been collected till the end of June of the financial year 2082/83. Listed Employers a...
Watermelon farming has started for trials in the coastal area of the cyclone
Kathmandu. Bhirkot Municipality of Syangja has started watermelon farming as a test in Andhikhola coastal area. Mayor Govinda Kumar Karmacharya said that in collaboration with Heifer International, the aim of commercial watermelon farming ha...
The value of the US dollar is at an all-time high
Kathmandu. Nepal Rastra Bank has determined the exchange rate of foreign currency for today. According to the fixed exchange rate, the value of the US dollar increased further and reached its highest point so far. Acco...
The US dollar and euro rose, as did other currencies
Kathmandu. Nepal Rastra Bank has announced the official exchange rate of foreign currency for Thursday. According to the new rate set by the National Bank, today the buying rate of one US dollar is 151 rupees 46 paisa and the selling rate is 152 r...
Collected more than 11 billion in Prime Minister's Disaster Fund
Kathmandu. Relief and financial support for the flood victims of Rasuwa is increasing. According to the Office of the Prime Minister and Council of Ministers, there is currently 11.55 billion 56 lakh 26 thousand 971 in the Prime Minister's Disaste...