KMC announces 100 percent tax exemption for up to three years for businesses that employ 20 people

Published On: June 15, 2024 12:40 PM NPT By: Republica  | @RepublicaNepal

KATHMANDU, June 15: Starting from the upcoming fiscal year, Kathmandu Metropolitan City (KMC) has announced a 100 percent business tax exemption for the first three years for businesses that employ at least 20 people.

While presenting the policies and programs for the upcoming fiscal year 2024/25 on Friday, Kathmandu Metropolitan City Mayor Balendra Shah made this announcement. He stated that at least 30 percent of the necessary workforce for development and construction projects implemented by Kathmandu Metropolitan City will be supplied through the KMC's labor bank.

Mayor Shah mentioned that cooperative institutions in the metropolitan area will be integrated into an electronic system to make their operations more organized. He said that a Cooperative Information Center will be established to effectively manage savings collection, loan operations, and institutional governance.

Mayor Shah mentioned that sports will be made mandatory from the primary level for the mental and physical development of students. He also noted that there will be provision for at least one counselor and one nurse in all resource centers. He said that arrangements will be made to operate classes in two shifts at the primary level, enabling students to develop capacities that can compete at the international level. He also stated that educational and physical standards of community schools will be improved. He highlighted that dietary plans, including meals for community schools' students, will be implemented to ensure nutritional standards.

Mayor Shah stated that he plans to introduce the concept of central kitchens in schools with fewer than 200 students. He indicated that scholarships provided by non-governmental organizations to community and institutional schools will be distributed through a centralized system established by the KMC. He mentioned establishing and operating special schools for students with autism. He announced providing necessary support for creating employment opportunities by training students to work part-time according to the concept of earning while learning.

Mayor Balendra Shah has announced that the movable assets of community schools within the metropolis will be strictly allocated for educational purposes. He emphasized the full utilization of the rights granted to local bodies by Nepal's constitution. He expressed the belief in maximizing the use of the constitutional authority to implement the vision of 'Cultural City, Prosperous Metropolitan'. He outlined his vision to transform Kathmandu Metropolitan City into a secure, inclusive, prosperous, and vibrant city.

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