From the fiscal year 2019/20, the Government of Nepal has imposed a 10% custom duty on import of books. While many Nepalese readers and experts have already termed it as an unacceptable tax on knowledge, there is no doubt that this protectionist policy also comes with many long term consequences that directly affect the local consumers, industry, as well as government.Continue reading
Members of the House of Representatives, from both the ruling and opposition parties, have started lobbying for an increase in Local Infrastructure Development Partnership Program (LIDPP). Continue reading
The historical Khula Manch has shrunk over the years and it faced serious encroachment issue with the recent case of 52 illegal structures constructed on the northern part of Khula Manch. Continue reading
In May 2018, immediately after taking the oath for the seventh Prime Minister of Malaysia, Dr. Mahathir Mohamad had announced to take measures to control his country’s escalating public debt. Few days later, his government announced to reducing Ministers’ remuneration by ten percent, canceling the Kuala Lumpur – Singapore high-speed train and requesting citizens to voluntarily donate money; all targeted at helping government to deal with country’s public debt. At the same time, the Government of Uganda, which was enlisted as one of the thirty-nine heavily indebted poor countries by the World Bank in 2012, had amended the existing Excise Duty Bill to tax citizens for using major Social Media platforms and collect necessary resources to finance nation’s debt. Continue reading
For the past year, the bearish sweeping red flooding the secondary market in Nepal has wreaked havoc on millions of investor portfolios. The declining trend has been caused by a number socio-political factors including political instability and liquidity crunch in the banking sector as well as BFIs being forced to give out large numbers of bonus and rights shares as a result of increased paid up capital requirement. In addition to the supply demand mismatch, a recent directive released by the Inland Revenue Department further triggered a drastic reaction from investors plummeting the market by 76.02 points to a closing at 1231.64 points yesterday (10th June 2018) . This nosedive tailed the first of its kind boycott by Nepalese investors protesting an increase in the capital gains tax on bonus and right shares at the companies’ market value. Continue reading
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