Nepal Budget for 2021-22 Presented Including Tax Reductions and Exemptions

Nepal Finance Minister Bishnu Paudel delivered the Budget Speech for fiscal year 2021/22 on 29 May 2021. Some of the main measures include:

• An income tax exemption depending on annual turnover up to NPR 10 million:
  • up to NPR 2 million - 90% exemption
  • NPR 2 million to 5 million - 75% exemption
  • NPR 5 million to 10 million - 50% exemption
• A 1% income tax rate for sectors greatly impacted by the COVID-19 pandemic, including hotels, tourism, transportation, and others, along with an increase i…