Nepal unveils relief package to help flood-hit businesses recover
Customs and tax breaks, loan restructuring and cheaper credit offered to businesses affected by Bhotekoshi floods.
Customs and tax breaks, loan restructuring and cheaper credit offered to businesses affected by Bhotekoshi floods.
The government has immediate access to around Rs20 billion from the current fiscal year’s budget for rescue, relief and other emergency needs. Following the devastating Bhotekoshi flood, donations to government relief funds are also pouring in.
Explaining the mechanism for donating cash and supplies for the Bhotekoshi disaster relief effort, key contacts, and illegal collection drives.
A parliamentary panel has proposed cutting the tenure from five years to three, with a possible two-year extension based on performance — a change ex-governors warn could leave the bank exposed to political pressure just when it needs stability.
Doubling the tax-free threshold to Rs1 million means the prime minister, ministers, MPs and security chiefs owe no personal income tax on their salaries and raises questions about tax equity.
Banks earned Rs69.78 billion in the last fiscal year, ended mid-July, as improved loan recoveries and lower provisioning lifted profits.
Police investigations and arrests over lending and loan recovery are raising a fundamental question about who should police the banking system: the central bank or law enforcement agencies.
His return ends a five-month absence from Nepal but leaves unanswered questions over his family’s movements, medical treatment and finances.
The government’s new taxpayer incentive programme is designed to encourage consumers to demand bills, promote digital payments and make businesses more transparent in reporting sales and taxes.
Nepal’s new tax incentive scheme rewards consumers for demanding receipts, with 16 people winning cash prizes in the first draw.
More than an estimated 500 institutions across the country have stopped returning deposits even though they have not been officially classified as ‘problematic’.
Findings come at a time when economists and the private sector have increasingly questioned the frequency of policy changes by successive governments and regulators.
The surge in public participation has not yet been matched by a more mature market, wider instrument options, or stronger institutional foundations.
The Cabinet on Wednesday scrapped the 3 percent equity levy passed in the fiscal budget.
The government’s withdrawal of the three percent parity tax awaits Cabinet approval, leaving uncertainty over refunds for taxes collected since July 17.