International Correspondence Lawyers & Financial Experts

Nepal Budget 2007 - Summary

Authors: B. K. Agrawal & Co.

Contents

1. - FOREWORD
2. - OBJECTIVES & PRIORITIES
   
   
3. The Budget summary, which follows hereafter, contains a fiscal and economic review and the salient features in the Finance Bill 2064 with respect to direct and indirect taxes.
   
   
4. - KEY ANNOUNCEMENTS
5. • Budget Proposal - Direct Taxation
6. • Budget Proposal - Indirect Taxation
7. 1. - Excise Duty
   2. - Customs Duty
   3. - Value Added Tax (VAT)
8. 
   Highlights of the key tax proposals and their impact on certain key industry are stated in the annexure to this document.
   
   
9. - ANNEXURE

Article

"The Hon’ble Finance Minister, Dr. Ram Sharan Mahat presented the Budget On Wednesday, Ashad 28, 2064 (July 12, 2007) for the financial year 2064/65 (2007-08), The key highlights in the budget, how it affects the individuals and corporate business entities in Nepal as well as Overseas entities proposing to do business in Nepal are outlined below.

The direct tax provisions contained in the Finance Bill will generally apply to financial year ending Ashad 32, 2065 (July 16, 2007 to July 16, 2008), unless specifically stated otherwise. Further, Special Tax on import, Customs Duty, Excise Duty and Land Registration Fee shall be applicable with effect from Ashad 28, 2064 and others w.e.f. Shrawan 1, 2064...

download the complete article as PDF-document