Kathmandu Metropolitan City Revenue Department Notice for Tax Exemption:
Considering the worldwide impact of COVID-19 and the unusual situation faced by the metropolitan population due to the lockdown announced by the Government of Nepal. This notice has been published by the Seventh Municipal Council of the Kathmandu Metropolitan City to disclose the following tax exemptions to be paid by the residents of the metropolis in the fiscal year 2077/078 BS.
- Property tax will be reduced by 10% till the end of the Fiscal Year 2077/07. Taxpayers operating in the name of hotel or resort will be given 85% exemption in property tax till the end of the fiscal year 2077/78 and 75% exemption from Magh to Ashad end.
- Considering FY 2072/073 as the base year of business tax, 100 percent exemption will be given on business tax arrears and fines of older fiscal years. The business tax levied in the Fiscal Year 2077/78 will be 50% exempted from the business tax related to the hotel, tourism, and entertainment sector mentioned in section (e) of the Financial Act, 2077. 20% business tax exemption for other businesses.
- Considering the Fiscal Year 2072/073 as the base year of reinstatement tax, 100% exemption will be given on the restoration tax arrears and fines of the earlier fiscal years. If the householder self-declares that he/she has been given at least one-month restoration exemption during the period of bandh announced by the Government of Nepal, a 10% exemption will be given in the restoration tax levied in the Fiscal Year 2077/78.
- Due to the ban announced by the Government of Nepal, no penalty will be levied on the entire tax arrears of the Fiscal Year 2076/07.
If you need more information about this, please contact the Revenue Department on 01-42673410.
