Published On: June 8, 2022 07:09 PM NPT By: Republica | @RepublicaNepal
KATHMANDU, June 8: The government collected Rs 11.03 billion in capital gains tax from the share market as of May-end of the current fiscal year.
According to the Securities Board of Nepal (Sebon), the investors paid the aforementioned amount of tax for the capital gains they secured on purchases and sales of shares. The government takes five percent capital gains tax from long-term investors whereas it is 7.5 percent for short-term investors.
With an increasing attraction of investors in the secondary market, the capital gains tax collection by the government has been in rising trend in the past few years. As of mid-May, the investors have opened a total of 5.15 million demat accounts, which is necessary to transact shares.
In the fiscal year 2020/21, the government collected a capital gains tax of Rs 15.53 billion while in the previous year, the amount was only Rs 980 million. Likewise, the collected revenue under the heading was Rs 640 million and Rs 470 million in the fiscal year 2018/19 and 2017/18, respectively.
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