Learn with NirmalAryal/Arthabichar Nepal - Guide to Entrepreneurs, Startups, and Business Enthusiast

Introduction Nepal's transformation into a federal state with seven provinces has brought about a distinct shift in governance. Each province now wields the power to establish its own laws, creating a unique administrative setup. Unique Tax Systems in Each Province Since the shift to federalism, an intriguing trend has emerged. Each province has independently set its own tax rates and devised specific procedures for blue book renewals in the transport sector. It's like having a mosaic of rules that don't always align seamlessly. While transport ministers from all provinces initially discussed the possibility of standardizing vehicle tax rates, progress has been slow. Despite an agreement allowing vehicle owners to pay taxes in a province of their choice, regardless of where their vehicle is registered, little has changed. This initiative was handed over to the Federal Ministry of Physical Infrastructure and Transport to oversee ( source ). The Need for Progress Unfortunatel

In my reflections as a blogger, I often wonder why, despite my best efforts, I consistently end up paying fines during vehicle tax payment and blue book renewal. My understanding was rooted in the belief that taxes should be settled within a specified period during the Fiscal Year. Perhaps, my immersion in Income Tax matters led me to assume that we had a generous 90-day window at the close of the Fiscal Year to fulfill our obligations. As many of you know, the Fiscal Year in Nepal commences on Shrawan 1 and concludes at the end of Ashad. Accordingly, the standard due date would be at the end of Ashoj. However, my recent visit to the Transport Management Office proved otherwise. I was confident that I wouldn't have to dig too deep into my pockets to cover fines. To my surprise, I was slapped with a hefty 20% fine for tax and a whopping 100% fine for Blue Book renewal. It felt exorbitant and left me with an additional Rs. 6,400 less in my hard-earned money, all due to my confusion a

It has been over a year since Nepal Rastra Bank allowed Nepalese Citizens and business houses to own a prepaid dollar card worth US$ 500 for the online transactions. The cap of US$ 500 is per annum. To get the dollar card, one must visit the bank (only Class A and B bank can issue such cards) and submit the following document: a)  Prepaid Dollar Card Application (this can be obtained from concerned bank customer service desk) b) Updated Know Your Customer (this can also be obtained from concerned bank's customer service desk) c) Copy of the PAN Card Number (Original must also be carried in person for verification) Once the necessary form is filled and verification of documents, bank will then create a linked dollar account. This is separate to any other accounts you maintain in the bank. Amount transferred will be equivalent Nepalese Rupee for US$ 500 as of the day when the bank approves such prepaid dollar card. It generally doesn't take more than a day. However, to receive a

There is a lot of buzz around Bitcoin, Dogecoin, Pi, or Eritherium among us Nepalese. We all know that these are all cryptocurrencies and are not legal in Nepal . However, during our interactions, we found that we really don't know much about them. In this blog, we are trying to clear the confusion and list out the basic features that all digital currencies have to be called " Crypto Currency ". First is DIGITAL . The fact that these are not printed and are only available on a computer in its virtual firm makes it fully digital. There are no coins, no notes, and not even central banks to issue the money. The second is DECENTRALIZED . There is no server or central depository where all the data is stored. It is actually distributed across thousands of computers and uses blockchain technology. The third is PEER TO PEER . It is passed from one person to another person or from person to company or vice-versa using digital wallet platforms. There is no trusted third parties lik

Postage Stamp was a mandatory part of the application for registration of a company in Nepal. In fact, it is not only for the registration of the company but for most of the government applications, be it simple handwritten or special forms. Thumb rule is no postage stamp no registration. You must be wondering is it in addition to an application fee or registration fee levied by the government. And, the answer is yes. This is on top of the regular service fee charged.  One can find the postage stamp easily in the nearby shops or cafeteria where such government offices are situated. However, with the Companies Act, 2063, and its directives issued in 2072, the provision of furnishing postage stamp along with application has been repealed. What does it mean? One is no longer required to buy a postage stamp and place it on top of the application or form for registration of the company. Photo credit: Google Image Let us talk about the Postage Stamp itself.  Do you know when was it

Registration Fee for the private firm depends on the proposed capital of the firm.  Private Firm Registration Rules, 2076 (12th Amendment) has currently made a provision of six brackets with a maximum fee of NRs. 75,000. Through the amendment, the Government of Nepal has also tried to attract those representing Women, Dalit, and Deprived Sector to the business with the waiver of 50% on each bracket. The list below gives us the ceiling and the registration fee per ceiling. 1) NRs. 1,000 for Capital up to Nrs. 1,000,000 (One million or Ten lakh) 2) NRs. 5,000 for the capital above NRs. 1,000,000 upto NRs. 5,000,000 ( Five million or Fifty lakh) 3) NRs. 10,000 for the capital above NRs. 5,000,00 upto NRs. 10,000,000 (Ten million or One crore) 4) NRs. 50,000 for the capital above NRs. 10,000,000 upto NRs. 100,000,000 (Hundred million or Ten Crore) 5) NRs. 75,000 for the capital above NRs. 100,000,000 For those representing Women, Dalit and Deprived Sector registration fe

The Fulbright Commission announces the 2020 competition for the Fulbright Foreign Student Program for Nepalese Students for Master's Level Study in the United States of America (USA). Those selected will begin in August-September 2021. What does it cover? The program provides all expenses (including Travel) for a master's degree program of up to two years at selected US Universities, in any field except for medicine and nursing. Who can apply? Those who have completed their SLC (or equivalent) from rural areas, women, minorities, and people from under-served populations are strongly encouraged to apply. For more information about the application and essay tips, please visit   Question and Answer sessions for the program will be held at USEF-Nepal, Aakriti Marg, Maharajgunj, Kathmandu on the following dates: March 5, 10 AM to 12 NOON March 20, 2 PM to 4PM April 3, 2 PM to 4PM Deadline for submission of application: 4PM, Friday, April 10, 2020

Industrial Enterprise Act that came into effect from 2076 B.S has classified industries into 5 different types. 1) Micro Enterprise: For any industry to be termed micro-enterprise, it must fulfill the following conditions: Fixed Capital worth up to Rs. 2 million (20 lakhs) excluding land and building Entrepreneur himself/herself is involved in the operation & management of the enterprise, A maximum staff member of nine including entrepreneur himself/herself. Annual turnover less than Rs. 10 million (1 crore) Uses 20 Kilowatt or less powerful motors, in case, the enterprise uses plant, machinery or equipment  2) Cottage Industry: For any industry to be termed as Cottage Industry, it must fulfill the following conditions: Based on Traditional Skill and technology Are labor-intensive and require specialized skill or local raw materials and based on local technology, art, and culture. Uses 50 Kilowatt or less powerful motors, in case, the enterprise uses plant, mach

Well, all of us at one point of our life must have thought about the Internet Service Providers and which one is providing the best service. What are the criteria for us to compare the internet service providers? 1) The consistency of Internet Speed 2) Price for the service 3) Free Goodies and Bundled service involved 4) Customer Service So, what we normally do is go for those providing higher internet speed at lower cost or those providing more value for money. But have we really considered the internet speed we are getting is true speed? Every internet service provider particularly talks about the internet speed in terms of "Mbps" such as 20Mbps, 30Mbps or 5Mbps etc. It's true that "Mbps" denotes the actual internet connection speeds. Higher Mbps means higher internet connection speed allowing us to down and upload text, audio, and video files faster. But, what we need to understand is Mbps doesn't denote the file speed, for example, you want to d

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

In this era of information and technology, people are relying more and more on the internet to access news. Social Media, websites and apps have become part of the basic life. With recent data from Nepal Telecom Authority, the regulatory body of telecom and internet service provider, more than 63% of Nepalese have access to the internet which is about 16.3 million people. The fact that every leading newspaper like Kantipur, Kathmandu Post, Nagarik News, Republic, Annapurna Post, The Himalayan Times, Arthik Abhiyan, Karobar, Gorkhapatra, Rising Nepal, Samacharpatra, Nayapatrika and various other daily and weekly newspapers of Nepal have been publishing their epapers and effectively managing their website content with latest up to date news shows how important e-news is these days. The working group people, recruiters and youths these days are even relying on job sites like merojob.com, jobsnepal.com, alladnepal.com , ramrojob.com and similar others for a different career opportunit

 म विदेशबाट नेपाल र्फकिंदा कति तौलसम्म सुन लिएर आउन पाउँछु ?  Effective June 2016, Nepal Government has made changes in the rules as to how much  Gold  can be brought in by a person traveling to Nepal  tax-free . Nepal Government has classified such person traveling to Nepal into four categories: 1) Nepali National who had visited abroad and returned to Nepal. 2) Nepali Crew Members for the airlines. 3) Non-resident Nepalese 4) Foreign National visiting Nepal Nepali National returning to Nepal, Non- resident Nepalese  can bring up to: - 50 grams of Gold Ornaments, - 500 grams of Silver Ornaments, and - Gold and Silvery Jewellery worth up to NRs. 100,000. Foreign National visiting Nepal  can bring up to: - 50 grams of Gold and - 100 grams of Silver Ornaments. Nepali Crew Members for the airlines  cannot bring any other items other than items that have been in personal use. Recently in July 2018, Government of Nepal updated its policy to address