KATHMANDU, July 1: The government has collected capital gains tax from the share market worth Rs 259.52 million during one month between mid-May and mid-June.
The capital gains tax last month was double compared to the amount that the government collected under the same heading in the previous month. During mid-April and mid-May, the government collected Rs 135.48 million as capital gains tax from the share market.
Short-term trading of shares increases in secondary market
According to Suresh Neupane, spokesperson of the CDS and Clearing Limited, a notable rise in turnover amount at Nepal Stock Exchange (Nepse) has led to an increase in collection of the capital gains tax. The daily turnover amount at the Nepse that once plunged to mere around Rs 600 million, now stands above Rs 4 billion on almost every trading day.
Of the total amount collected in the review month, the government collected Rs 128.55 million from short term investors, while Rs 90.28 million was collected from the long-term investors.
