Country sees outflow of around Rs 13.5 billion in eight months

KATHMANDU, March 18: The country has witnessed outflow of approximately Rs 13.5 billion as dividends in the eight months of the current fiscal year 2022/23. The Department of Industry has recommended the outflow of Rs 13.45 billion as dividends from the country in the period, according to the Department.

The outflow money includes over Rs 2.8 billion, more than 1.1 million USD, over INR 304 million and Euro 7,000.

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Dividend amounts can be taken out of Nepal within 15 days following approval by Nepal Rastra Bank at the recommendation of the Department.

The size of the dividend amount to be taken out of the country could increase this year in comparison to the previous, said Department’s Section Chief Shankar Singh Dhami.

“In the last FY, the Department had tightened the screw on foreign investment companies in taking money out of the country as dividends and royalties,” he said, adding it is relatively easy this year.