‘Cultural Peace Walk’ for tourism promotion

Kathmandu: In the last financial year, the government has provided about 19 billion rupees of tax exemptions and facilities to various taxpayers. The Internal Revenue Department under the Ministry of Finance has given 18 billion 80 million rupees discount facility for income tax and value added tax in the year 2079 and 80.
According to the department, 10.72 billion rupees 82 million rupees concession has been provided towards income tax in the last financial year. Similarly, the department has given a discount of 8 billion seven crore 57 lakh rupees towards price increase.
The department’s preliminary statement is that the tax exemption data does not mention the name of the organization that will receive the exemption facility. However, it has been mentioned in the details that it is a discount facility according to the law, according to which according to Section 11 of the Income Tax Act, 2058, Rs.
According to section 64 of the Act, the department has given a tax exemption of one billion 184 million rupees to the retirement fund. According to section 21 of the Economic Act, 2079, the department has provided a discount of Rs.
Regarding income tax, the department has given a discount of 75 percent i.e. two billion 139 million rupees to the taxpayers who submit the ‘Day One’ income statement. The department has mentioned that 50 percent i.e. 791.5 million rupees discount has been given to taxpayers who pay tax on the basis of transactions.
As mentioned in the Income Tax Act, the department has given a 50 percent tax exemption, i.e. 271.1 million rupees, on the business of hotels, travel, trekking, movie business, party palace, media house, transportation services, which is more than one crore rupees.
The department has refunded 23 crore rupees to diplomatic agencies towards value added tax. The Value Added Tax, 2052 stipulates that persons receiving diplomatic privileges and missions receiving diplomatic privileges on the recommendation of the Ministry of Foreign Affairs can refund the amount of tax paid when purchasing taxable goods or services within Nepal.
The tax exemption provided to diplomatic missions in the last year is more than the previous year. According to the department, in the year