Nepal's Fiscal Year and Tax Calendar
- Title
- Nepal's Fiscal Year and Tax Calendar
- Details
Nepal follows a Bikram Sambat (BS) fiscal year running from Shrawan 1 (mid-July) to Ashadh end (mid-July) of the following calendar year.
Key Dates
- Budget presentation: Late May/early June (Jestha-Ashadh).
- Tax year: Same as fiscal year.
Major Taxes in Nepal
- Value Added Tax (VAT): $13%$ (standard rate imposed on goods and services).
- Corporate Income Tax (CIT): $25%$ general, $20%$ for manufacturing, $30%$ for banks/insurance.
- Personal Income Tax (PIT): Progressive brackets up to $36%$ for individuals.
- Customs Duty: Varies by commodity ($0%$ to $80%$).
- Excise Duty: Imposed on alcohol, tobacco, and vehicles.
- Capital Gains Tax (CGT): $5%$ to $10%$ on securities, $2.5%$ on real estate for individuals. Practise these concepts as timed MCQs to lock the pattern in.
- Category
- Taxation
- Fiscal Year
- 2082
- Key Figure/Rate
- VAT 13%, Corporate Tax 25%, Max PIT 36%