KMC Urges Taxpayers To Pay Tax Within Deadline

Issuing a notice, Department of Revenue of the KMC requested to pay tax and get discount facility

RSS Nepal
Read Time = 2 mins

The Kathmandu Metropolitan City (KMC) has urged taxpayers to pay tax of their businesses within the determined time.

Issuing a notice, Department of Revenue of the KMC requested to pay tax and get discount facility. The KMC has offered exemption in property tax, rental tax and business tax.

The notice reads that 10 per cent exemption has been offered on the tax amount of the current fiscal year if it is paid within January 14, 2024.

Similarly, additional 30 per cent discount would be offered in the case of taxpayers who have operated a hotel, resort or movie theatre on their own land or taking such facilities already constructed on lease in the metropolitan city, if they pay property tax with arrears by mid-January 2024.

It is stated that property tax of the parking lot of a building constructed with the purpose of commercial parking of vehicles would be exempted for 10 years from the date of completion of the building construction.

There is provision of 95 percent discount on business tax and registration fees of an industry or enterprise operated under the 'One Ward, One Model Industry' programme for three years since the registration of the industry or business.

A 40 percent tax exemption on the total tax amount has been provided to industries, businesses, companies, organisations registered in the name of women and people from the indigenous nationalities and Dalit communities, people with disabilities of whichever age group and youths below 35 years of age and which are not under tax coverage in the Fiscal Year 2080-81 BS, which have capital investment up to Rs 500,000, if they pay the tax within January 14, 2024.

Similarly, a 25 percent tax exemption has been provided in the case of regular tax-payers. However, individuals who are the permanent residents of Kathmandu Metropolitan City will get a 50 percent tax exemption on such tax if they pay the tax within the stipulated date.

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