News Article

Govt introduces 'National Startups Policy, 2080' to boost entrepreneurial growth with tax waivers

By Republica

Published: May 19, 2024 03:50 PM

KATHMANDU, May 19: The government is set to support investment in startup companies through the implementation of the 'National Startups Policy, 2080', recently adopted by the Council of Ministers.

This policy includes waivers on costs associated with registering businesses, renewing and registering industrial properties, as outlined by the policy.

Additionally, the policy offers various supports for entrepreneurs, such as seed money, human resource development, consultancy and technical assistance, and incentives for exports, including concessional loans and cash incentives.

Startups will benefit from an income tax waiver for the first ten years post-establishment.

The policy also requires banks and financial institutions to provide loans at reduced interest rates to startups and invest a specified percentage of their lending into startup enterprises.

Furthermore, a special fund will be established to foster new and innovative ideas, with additional subsidies on loans offered to startups and innovative projects.

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