Arthabichar Nepal - Guide to Entrepreneurs, Startups, and Business Enthusiast

Inland Revenue Department Nepal has published the agency codes that shall be used for the collection of direct and indirect taxes for the general public's information. Each code consists of 9 numbers. There are in total 59 agency codes currently in use. From these codes, we can classify that there are four types of IRD offices currently in operation. 1) Inland Revenue Office 2) Tax Payer Service Office 3) Large Tax Payer Service Office, and 4) Medium Tax Payer Service Office When shall you use these codes? It shall be used while choosing the agency where the tax should be deposited while completing the form for depositing the taxes. Agency Code list below: S.N. Agency Code Name Address 1 305011620 Inland Revenue Office Lahan 2 305030201 Tax Payer Service office Phidim 3 305030301 Tax Payer Service office Illam 4 305030401 Tax Payer Service office Khandbari 5 305030601 ...

Online trading of share, once a myth, has finally got its shape in Nepal. Nepal Stock Exchange (NEPSE) attracted a lot of negative comments when it launched its application earlier in 2018. The system was full of bugs. Despite the continued pressure of the public, investor's association, broker's and various other concerned stakeholders, NEPSE was not able to give the proper answer but its creditworthy to mention that NEPSE was working on the background to improve its system. NEPSE recently opened the facility of getting payment done online with their systems connected through Connect IPS. Connect IPS is a payment gateway promoted by Nepal Clearing House Limited. Like any other payment gateway, it acts as an intermediary between buyer, broker, and seller. For more detail about how integration with Connect IPS works, please go through the manual on the link below: Click Here On 13th June 2019, NEPSE published a data of broker wise online client list which shows total 8944 c...

Inland Revenue Department has issued a public notice to clarify the provisions regarding the deposit of 50% of the VAT Payable to Vendor directly to the Revenue Account of Nepal Government. Provision was introduced by the Finance Ordinance 2076 which has become effective since 2076/02/15 i.e. 29 May 2019. According to the circular: Provision is applicable for all contracts or supply of goods & services made to the Nepal Government or entities that are fully or partially owned by Nepal Government. Whenever the payment is made to the contractor or supplier or consultant, Nepal Government or entity owned by Nepal Government (fully or partially) must deduct the 50% of the VAT amount and deposit it to the following revenue code: Consultancy and Contract: 33114 Suppliers other than contract: 33113 The concerned entity must notify the consultant or contractor or supplier, once the deposit is made to the above revenue code. The amount for each consultant, contractor and supplie...

Decision making is an integral part of any business be it a startup or small or large enterprise. However, being a startup its even more crucial as it is very important for startups to make the right decision at the right time. There might be different methods of how an effective decision can be made. Today, we would like to highlight about the decision-making model developed by Bain & Company which was introduced through an article published in Harvard Business Review, back in January 2006. You can click on the link below for the full article: Who has the D? How clear decision roles enhance Organizational Performance. RAPID is an acronym for the different roles people can have or the activities they take on during the decision-making process. Each letter stands for a specific role or activity; however, people can have more than one letter assigned to them depending on the nature and context of the decision and the size of the group. So, what does each of these letters stan...

Recent budget speech by the Honorable Finance Minister had made numerous changes in the Income Tax Act. We are going to cover each of those separately with various blogs in the next month or so. Today, we want to start with the Income from Salary as this will have a huge impact. Basically, there aren't any changes in how income from salary will be calculated or what will be included in the income from salary. The only change made with this budget speech is on the exemption limit on the taxable income. You can see the table below to know more: Income Limit Previous Current Indvidual NRs. 350,000 NRs. 400,000 Couple NRs. 400,000 NRs. 450,000