KATHMANDU, Jan 14: After years of lobbying, star hotels in Nepal have finally been recognized as industries by the recent ordinance. The government has amended the Industrial Enterprises Act 2076 to include star hotels and tourism resorts under the national priority and productive industries category. While the ordinance has been passed by the Cabinet, it awaits final approval from the President's Office.
This amendment, following recommendations from the law reform task force, brings hotels under the manufacturing industry, opening the door for industry-like benefits, including concessional rates and tax exemptions, particularly for electricity consumption.
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Hotels, a key contributor to Nepal’s economy, generate employment for millions and play a crucial role in foreign exchange earnings. The sector’s inclusion in the manufacturing industry could enhance its ability to access government services and facilitate further investment.
