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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).
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Tax deduction at source (TDS) has come into existence with the motive of collecting tax from different sources of income. As per this concept, a person (Payer) who is responsible to make payment of specified nature to any other person (Payee) shall deduct tax at source before making payment to such person (Payee) and remit the same into the account of the Central Government.
But even if you have the same salary as someone, that doesn't mean you will have the same net pay. Net pay is affected by certain taxes, benefits, wage garnishments and other deductions.
The concept of VAT in Nepal was introduced in FY 2049/50 but the act was developed in BS 2050. VAT was implemented in 1998 and is the major source of government revenue. It is administered by the Inland Revenue Department of Nepal.
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.
Nepal Communist Party: 16 March 2018: 20 November 2019: Minister of Labour, Employment and Social Security 6 Rameshwor Raya Yadav [12] Nepal Communist Party: 20 November 2019: 25 December 2020 7 Gauri Shankar Chaudhary: Nepal Communist Party: 25 December 2020: 20 May 2021 8 Bimal Prasad Shrivastav: People's Socialist Party, Nepal: 4 June 2021: ...
The purpose of corporate tax is to generate revenue for the government by taxing the profits earned by corporations. The tax rate varies from country to country and is usually calculated as a percentage of the corporation's net income or capital. Corporate tax rates may also differ for domestic and foreign corporations.