KATHMANDU, June 5: Although the government almost every year revises the customs duty and excise duty on alcohol to collect more revenue, the budget for 2020/21 has surprisingly kept the tax rates on the conspicuous goods unchanged despite the government falling in pressure to manage the financial resources to manage the expenditures.

KATHMANDU, May 23: Despite pressure on finances, the government is preparing a bigger budget for the next fiscal year 2020/21 compared to that of the last year.

KATHMANDU, April 8: The World Bank has approved a fast-track US$ 29 million COVID-19 Emergency Response and Health Systems Preparedness Project to help Nepal prevent, detect, and respond to the COVID-19 pandemic and strengthen its public health preparedness. According to World Bank officials, the agreement was signed today by the Ministry of Finance and the World Bank.

KATHMANDU, March 30: The government's aim to switch to domestic sources from taxes on imported goods for major tax revenue collection seems to have yielded success to some extent with the significant rise in value-added tax (VAT) from internal economic activities.

KATHMANDU, Feb 22: The government has announced that it would provide a seed capital for innovative businesses, start up or entrepreneurs up to a limit of 50% of their project cost.

KATHMANDU, Jan 26: The government has stepped up to form a revenue board that is envisioned to help solve various issues related to the country's existing tax system.

KATHMANDU, Dec 12: Nepal received foreign loans worth Rs 24.95 billion in the first four months of the current fiscal year, more than double the amount that the country took from foreign donors during the same period last year.

KATHMANDU, Nov 27The World Bank (WB) is to provide an assistance of Rs 16 billion 371 million and 300 thousand to Nepal for promotion of youth employment and school sector development.

KATHMANDU, Nov 23: The government has begun the process of selecting the new executive chairman of the Securities Board of Nepal (Sebon).

KATHMANDU, Nov 15: The government has revised economic growth rate for the current fiscal year to 7.01%, down by 1.49% percentage points from its ambitious target of 8.5%.

KATHMANDU, Nov 2: A delegation of nine executive directors out of a total of 25 along with two alternative executive directors of the World Bank Group Executive Directors (EDs) visited Nepal from October 29 to November 1.

KATHMANDU, Oct 20: The government has been able to achieve only 4.41% of capital expenditure progress in the first quarter of the current fiscal year – FY2019/20.

Govt mulls introducing inheritance tax

August 31, 2019 06:44 am

KATHMANDU, Aug 31: Finance Minister Yuba Raj Khatiwada on Friday said that the government was considering introducing inheritance or estate tax in a bid to widen parameter of revenues on wealth.

KATHMANDU, April 16: The Ministry of Finance (MoF) has intensified work for formulation of federal budget for the upcoming Fiscal Year 2019/20, with less than one and a half months at hand to table the budget in the parliament.

KATHMANDU, Dec 20: A committee formed by the Ministry of Finance to look into the recent financial markets volatility has submitted its report to the Minister for Finance Yuba Raj Khatiwada.

KATHMANDU, Dec 16: The committee formed by the Ministry of Finance (MoF) to look into the recent instability in the financial sector is preparing to submit its report on Monday.

KATHMANDU, Dec 4: The Ministry of Finance (MoF) is reportedly preparing to dole out Rs 85 million to Sajha Prakashan, the government-owned publishing house which has been reeling under a series of controversies of massive irregularities for the past one decade.

KATHMANDU, Dec 1: The Ministry of Finance (MoF) has circulated a notice to all ministries not to push for non-budgetary programs and budgets.

KATHMANDU, Oct 11: The Ministry of Finance and the World Bank have signed two agreements totaling $200 million, nearly Rs 23.5 billion, as budgetary support for financial and energy sectors.

KATHMANDU, Oct 5: The government of Japan has agreed to provide a grant assistance of Rs 308 millions for the School Sector Development Programme of Nepal for the fiscal year 2018.