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Nepal

Pakistan’s first in-depth newspaper that presents balanced news reports, analysis and reviews regarding Customs, Federal Board of Revenue (FBR) and Sales/Income Tax Departments beside covering import and export sectors comprehensively. Up-to-the-minute news bulletins regarding Customs and FBR departments are also displayed regularly on both website and face book for the interest of common people

Nepal Income Tax: 5 Key Takeaways for Entrepreneurs

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Nepal has seen some notable improvements in the recent years in offering business opportunities to its dominant young population. The Oli government’s pitch for start-up businesses and entrepreneurship is helping many young entrepreneurs to turn their dreams into reality. There are a wide range of entrepreneurs stemming up across the country through some game-changing initiatives. However, on the finance side, ... Read More »

Nepal Government Launches Trade Information Portal – NTIP

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After the launch of the Visit Nepal Year 2020 website and news portal, the Nepal government has now launched the ‘Nepal Trade Portal (NTIP)’. Nepal Industry, Commerce and Supply Minister Matrika Yadav launched the portal at a program organized at the Ministry. The NTIP has started the portal with the objective to facilitate export promotion and covers all information related ... Read More »

NRB launches RTGS in banking sector

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Nepal Rastra Bank (NRB) has formally launched real time gross settlement (RTGS) in the country from today. NRB Governor Chiranjibi Nepal and Lord Mayor of London (UK) Peter Estlin jointly inaugurated the high-value cheque payment system in real-time in Nepal amid a function held today. UK Aid is technically supporting Nepal for the launch and implementation of the RTGS in ... Read More »

Nepal Rising Trade Deficit Jumps By 14.26 Pc

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Nepal’s trade deficit is widening further with every passing year. The country’s trade deficit increased by 14.26 percent to NPR 1.32 trillion in the last fiscal year 2018-19. According to data from the Department of Customs, Nepal imported commodities worth NPR 1.42 trillion in the last fiscal, whereas it’s revenue earned from exports stood at NPR 97.11 billion. Even though ... Read More »

Nepal Records All-time High Gold Price of NPR 70,000 Per Tola

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Touching a new high, gold prices in Nepal reached NPR 70,000 per tola. The Himalayan nation recorded an increase of another NPR 500 on August 08, 2019, taking gold prices from NPR 69,500 to a shooting NPR 70,000. The price of the yellow metal reached NPR 70,000 to record an all-time high, informed the Federation of Nepal Gold and Silver ... Read More »

Nepal Rising Trade Deficit Jumps By 14.26 Pc

Trade Facilitation

Nepal’s trade deficit is widening further with every passing year. The country’s trade deficit increased by 14.26 percent to NPR 1.32 trillion in the last fiscal year 2018-19. According to data from the Department of Customs, Nepal imported commodities worth NPR 1.42 trillion in the last fiscal, whereas it’s revenue earned from exports stood at NPR 97.11 billion. Even though ... Read More »

Silver Heritage gets US$34mln offer for Nepal ops

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Boutique Asian casino operator Silver Heritage Group Ltd says it has received a US$33.9 million offer to buy its Nepal casino “operations”. The firm operates the purpose-built Tiger Palace Resort Bhairahawa (pictured), and also manages gaming at the Millionaire’s Club and Casino, in Kathmandu, the capital of Nepal. The offer, from an individual called Indra Bahadur Thapa, placed a US$33.9-million ... Read More »

Nepal-Georgia Ink MoU on Trade Expansion, Diplomat Visa Fee Waiver

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Nepal inks another important bilateral cooperation deal, this time with Georgia. The Nepal Chamber of Commerce and Georgian Chamber of Commerce and Industry signed a MoU on trade expansion and investment promotion. Nepal Chamber of Commerce President Rajesh Kazi Shrestha and Georgian Chamber of Commerce President and Industry signed the bilateral agreement on July 22, 2019 in the presence of ... Read More »

World Bank Extends USD 11 Billion in Financial Aid to Nepal

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The World Bank (WB) has lifted its hand to support Nepal again. This time, it has renewed its support to Nepal under the Second Programmatic Fiscal and Public Financial Management Development Policy Credit Project. In a move supporting Nepal’s efforts towards fiscal federalism and developing public financial management, WB offered the country a grant of NPR USD 100 million for ... Read More »

US Raises Concern Over Increasing North Korean Business Activities in Nepal

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Voicing concern over growing business activities of North Koreans in Nepal, the US has asked the Nepal government not to entertain North Koreans in the country stating that Nepal as a member of the UN should respect the decision taken by the global body to impose sanctions on the country. Mark Lambert, special US envoy for North Korea, who is ... Read More »

India, Nepal to amend trade treaty

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The Indo-Nepal Treaty of Trade and Transit will be amended soon to include waterways as a mode of cargo transport to enhance connectivity between the two countries. According to Pravir Pandey, Chairman, Inland Waterways Authority of India, currently the Indo-Nepal treaty of 1991 only allows movement of cargo by road and rail between the two countries. Need for amendment “We ... Read More »

Govt unlikely to change income tax slabs

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KATHMANDU: The government, which is under pressure to meet the revenue target for this fiscal year, is unlikely to make any changes in the income tax slabs. The private sector had suggested the government to bring down the corporate income tax by five percentage points and also revise the individual income tax citing that it was necessary to boost the ... Read More »

Nepal-India Investment Expo 2019: ‘Visit Nepal Year 2020, A Good Opportunity’

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In a move encouraging India-Nepal business cooperation, Nepal Finance Minister Yubaraj Khatiwada urged Indian businessmen to invest in Nepal. Khatiwada said this at the ‘Nepal-India Franchise Investment Expo and Conclave’ held in Kathmandu on May 15, 2019. Commending Nepal as a suitable investment destination, the Minister told Indian industrialists that the Oli Government has created a conducive and secure environment ... Read More »

‘ADB is focusing on bigger, transformative projects in Nepal’

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The Asian Development Bank has approved loans and grants of $5.8 billion and technical assistance of $0.2 billion for Nepal since 1966. But Nepal has not been able to utilise a big portion of funds made available, with cumulative loan and grant disbursements standing at $3.6 billion. The Manila-based multilateral lender has long been saying weak governance has prevented Nepal ... Read More »

12 Indians arrested for running networking business in Nepal

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KATHMANDU: Police have arrested 12 Indian nationals on suspicion of running illegal networking business. Police arrested them from Hotel Yak and Yeti, Durbarmarg while they were holding a meeting. A team of Nepal Rastra Bank, Revenue Investigation Department and Central Investigation Bureau arrested them. They have been kept in custody and further investigation was underway, police said. Read More »

IRD urges firms, individuals to deposit taxes

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At a time when government is under pressure to meet the revenue collection target for the current fiscal year, the Inland Revenue Department (IRD) has started using various measures to collect revenue from the market. Along with market inspection, IRD has also started to publish notices citing names of large tax payers who are yet to clear their tax dues ... Read More »

Asia’s economies can fight off trade war

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The economies of Southeast Asia, China, Japan and South Korea are expected to remain “resilient” in the face of heightened trade tension and stronger global headwinds, a regional body said. While growth in the region should ease to 5.1 per cent this year from 5.3 per cent in 2018, robust consumption and trade between the economies will be supportive, the ... Read More »

Indonesian ‘Belt and Road’ high-speed rail link expects $18 billion from satellite towns

A map illustrating China's silk road economic belt and the 21st century maritime silk road, or the so-called "One Belt, One Road" megaproject, is displayed at the Asian Financial Forum in Hong Kong, China January 18, 2016. REUTERS/Bobby Yip/Files

JAKARTA: The Indonesian-Chinese consortium building a high-speed rail link between the capital Jakarta and the textiles hub of Bandung expects to earn $18 billion developing satellite towns and industrial centres along the line, a company official said. The rail project, part of Beijing’s Belt and Road Initiative (BRI) to connect China with Asia, Europe and beyond was described last month ... Read More »

Nepal Police arrests Indian national for possessing contraband drugs

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An Indian national has been arrested near Nepal-India border and over one kilo narcotic drugs recovered from his possession, police said on Sunday. The man has been identified as 60-year-old Kalim Thakur. He was arrested from Jirabhawani area in Parsa district near Nepal-India border, police said, adding that 1.5 kg of contraband drugs have been recovered from his possession. Read More »

Four Indians arrested in Nepal for smuggling gold

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Four Indian nationals were arrested on Sunday from the national capital’s Tribhuvan International Airport for allegedly trying to smuggle nearly 6 kgs of gold, police said. The four were arrested as soon as they landed from a Thai International Airlines aircraft from Bangkok at the airport here. “Police have confiscated from them 5.8 kgs of gold,” a bulletin issued by ... Read More »