Tax Assessment in Nepal
Introduction to Tax Assessment in Nepal Tax assessment is a critical process in Nepal’s taxation system, governed by the Income Tax Act, 2058 (2002). It involves the evaluation of a taxpayer’s financial information to determine their tax liability. In Nepal, both individuals and businesses are required to undergo tax assessment to ensure compliance with the […]
Tax Planning Process in Nepal
Introduction to Tax Planning in Nepal Tax planning is a strategic approach to managing financial affairs to minimize tax liability within the bounds of Nepali tax laws. In Nepal, tax planning involves analyzing one’s financial situation and identifying legal ways to reduce tax obligations. The Income Tax Act 2058 (2002) and other tax regulations provide […]
Monthly VAT Return Process in Nepal
Introduction to VAT in Nepal Value Added Tax (VAT) was introduced in 1997 through the Value Added Tax Act, 2052 (1995). VAT is levied on the sale, exchange, transfer, import, and export of goods and services in Nepal, except for those specified as tax-exempt. The current standard VAT rate in Nepal is 13%, with certain […]