The government, through the Finance Bill, is set to provide interest exemption on three years of tax payments to employees working in the United Nations, international organizations, and diplomatic missions.
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Employees working in the United Nations and diplomatic missions will get a tax exemption of the last three years. The government has made such an arrangement through the Finance Bill.
According to which, Nepalis working in the United Nations office in Nepal or organizations under the organization or any other international body with diplomatic recognition or foreign diplomatic missions or foreigners (residents) living and working in Nepal will get a tax exemption of the interest and fee if they pay an additional one percent on the income tax of the last three years. The government has given a deadline of 2083 Mangsir for this.
According to the Income Tax Act, in cases where income is subject to tax but has not been paid yet, the person will have to get a Permanent Account Number (PAN) card and pay the income tax on the income from the fiscal year 2079/80 to 2082/83 and the additional amount of one percent and the income statement by the end of 2083 Mangsir. The Finance Bill mentions that interest and fee will be waived on such payments. "Such a person will not be required to submit any prior income statement and any taxes, fees, or interest thereon," the Finance Bill states.
