25 multinational companies repatriated over Rs 28 billion in last FY

KATHMANDU, September 4: A total of 25 multinational companies repatriated profits worth Rs 28.03 billion in the last fiscal year.

According to the Department of Industry, these companies took away the amount (inclusive of tax) in royalty, dividend and receipts from selling of their shares. Of the total amount, Surya Nepal repatriated Rs 3 billion-- the largest amount of all the multinational companies that repatriated profits.

Similarly, foreign investors of Gorkha Brewery took away Rs 1.72 billion, Ncell took away Rs 1.19 billion, Unilever Nepal took away Rs 1 billion and Marsyangdi Hydroelectric Project took away Rs 408.50 million during the review period. As per the law, foreign investors have to pay 15 percent tax while repatriating their money from Nepal.