Skip to main content

Company Registrar Office of Nepal goes Online

Goods News Indeed! Companies registrar office has finally agreed to the documents submitted online via their web portal and doesn't require to submit any additional paper documents. We certainly hope that these bring efficiency in the work and help companies to get things done smoother. We, also, hope that these will reduce the role of intermediaries who were charging unnecessarily high fees to help companies registered or ensure compliance and also, bring the level of corruption down.

1) Company Registration - New companies should only submit the proposed Memorandum of Association (MOA) and Article of Association (AOA). 

2) Compliance -  Annual reports, audit reports, and all other reports required to be submitted earlier.

3) Share Detail - 

-    Copy submitted online shall be certified by Company Registrar Office and such certified copy must be kept at the registered office of the Company. Company Registrar Office will only keep the digital copy and it will be the responsibility of the company to ensure that share details match with those certified.

- In case of the difference between data entered and scan copy, the company must contact the Company Registrar Office with the board's decision to correct such errors and update data in Company Registrar records.

Notice published in Nepali is given below:


Comments

Most Viewed

What is Nepal Standard Industrial Classification (NSIC Code)? Brief Explanation

NSIC (Nepal Standard Industrial Classification) Code is an economic classification of the economic activities that happen within the territory of Nepal. It has four digits representing different economic transactors bringing in consistency in collection and reporting of the economic data. It is mainly helpful for the economic data analysis hence, the economists, researchers and the policy makers including government will benefit from it. NSIC Code is formulated in accordance with ISIC (International Standard Industrial Classification) bringing in homogeneity and comparability of economic data with the world who has adopted ISIC framework. To localize the codes, guidance has been followed as prescribed by System of National Account, SNA – 1993 and International Standard Classification of Occupation, ISCO – 88. NSIC Code has defined Nepalese economic and institutional sector in three categories, mainly, to define the principal activities of the producing agents within Nepales...

Nepalese VAT Act: Understanding VAT Claims for Food Expenses in Business

Introduction: Determining whether a business can claim VAT against food expenses depends on the nature and purpose of the expenditure. Let's walk through a checklist to find the answer: 1) Was it a Business Expense?      If yes, proceed to question 2. Otherwise, VAT cannot be claimed. 2) Was it for Entertainment Purposes?      If yes (e.g., staff retreat, gatherings, farewells), VAT cannot be claimed. Otherwise, it may be eligible. VAT Act and Regulations: Rule 41 of VAT Regulation specifies that certain services or goods are not eligible for input tax credit under Sec 17 of the Nepalese Income Tax Act. These include: 1) Beverages (excluding mineral water, as clarified in the directive) 2) Alcohol or alcohol-based beverages like whiskey and beer 3) Petrol for vehicles 4) Entertainment expenses In the case of food expenses, it's crucial to determine whether they fall under the category of entertainment expenses. This encompasses activities that provide perso...

Windfall Gain Tax (आकस्मिक लाभमा कर) per Nepal Income Tax Act

Nepal's Income Tax Act defines Windfall gain as a gain obtained by means of lottery, gift, prize, tips, share of earning in a game (जितौरी)  or any other gain acquired incidentally.  Let us explain by example what can potentially be Windfall Gain.  1) Let's say apple recently launched a iPhone 14 in Nepal. Part of such launch, company offered its customer who buys iPhone, an iPad for free. The market value of the iPhone is Rs. 214,000 and that of iPad is Rs. 189,000. In such case, customer who received Rs. 189,000 worth of iPad without any additional cost will be considered a prize hence, a windfall gain. 2) Recently DRS gaming won US$ 292,000 (approx. Rs 4 crore) for being runner's up in the grand finals of the PUBG Mobile Global Championship. Let's assume here that DRS gaming has not been registered as a company but simply represented by individuals. If I am not mistaken, there are 4 members in the team. So, each individual will have won Rs. 1 crore as share of earni...