KATHMANDU, Jan 28: In the last fiscal year 2023/24, 18 social media and information technology companies paid a total of Rs 415 million in revenue to the Nepal government. This includes well-known companies such as Meta (the parent company of Facebook and Instagram), Google, Microsoft, TikTok, Adobe, Netflix, Amazon, and Apple.
These companies generated Rs 2.76 billion in revenue by providing electronic services in Nepal. According to the Large Taxpayer Office, they paid a portion of this revenue to the government.
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By the end of the fiscal year, these 18 companies had registered with the Inland Revenue Department and obtained PAN numbers. The registered companies paid Rs 358.5 million in value-added tax (VAT) and Rs 58.1 million in electronic service tax.
Among them, the company with the highest turnover paid Rs 171 million in VAT and Rs 2.93 million in electronic service tax.
In the current fiscal year 2024/25, one additional social media company has registered in Nepal. So far, 19 registered companies have conducted business worth Rs 493.41 million from mid-July to December, of which Rs 64.95 million have been paid as VAT.
