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All customs check point and offices for revenue collection administered by government of Nepal, ministry of finance, kathmandu. The Department of Customs of Nepal is an administration of Government of Nepal under the Ministry of Finance which collects customs duty, Value Added Tax, excise and other taxes at the border points and international airport.
The process of assigning HS codes is known as "HS Classification". All products can be classified in the HS by using the General Rules for the Interpretation of the Harmonized System ("GRI") that must be applied in strict order. HS codes can be determined by a variety of factors including a product's composition, its form and its function.
Inland Revenue Department (IRD) Nepal is the department of Nepal Government under Ministry of Finance, located in Lazimpat, Kathmandu.The IRD is currently responsible for the enforcement of Tax Laws and administration of the following taxes: Income Tax, Value Added Tax, Excise Duty and duties like Entertainment fee (Film Development Fee).
The government has also allocated a budget of 2.24 billion Nepali Rupees to the MEDPA for the current fiscal year of 2020/2021. [34] The target group of the MEDPA consists of at least 70% women, 30% Dalit , 40% Janajati /Indigenous, 40% Madhesi , 60% youth of ages 16–40 years old. [ 34 ]
In Nepal, various vehicle types were classified as mentioned above. Those classifications of vehicles were indicated by the color of their license plates. For example, the colors of license plate for Private owned vehicles and Government owned vehicles were different. Vehicle size was indicated by a 1-letter code in the format X # X ...
Value Added Tax (VAT) is an indirect tax levied on the value creation or addition. The concept of VAT in Nepal was introduced in FY 2049/50 but the act was developed in BS 2050.
The Ministry of Federal Affairs and General Administration (Nepali: सङ्घीय मामिला तथा सामान्य प्रशासन मन्त्रालय), (MoFAGA), is the ministry of Nepal that supervises activities undertaken by the local governments in Nepal. It also regulates and manages the civil service.
Ministry of Finance (Nepali: अर्थ मन्त्रालय) is the central authority of Government of Nepal charged with the responsibilities for maintaining both micro and macro economic stability in the country. The position of finance minister in Nepal has been held by Barsaman Pun since 6 March 2024. [1]