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ECONOMY

Rs 10K tax levied on imported cell phones costing over Rs 100,000

KATHMANDU, May 30: The government has decided to levy a tax of more than Rs 10,000 on mobile phones brought from foreign countries that cost over Rs 100,000. The government has introduced provisions of levying Rs 3,000 tax on other smart phones and Rs 200 tax on the rest of the mobile phones other than smartphones.
By Republica

KATHMANDU, May 30: The government has decided to levy a tax of more than Rs 10,000 on mobile phones brought from foreign countries that cost over Rs 100,000. The government has introduced provisions of levying Rs 3,000 tax on other smart phones and Rs 200 tax on the rest of the mobile phones other than smartphones.


In the case of the mobile phones which are in use as of May 29, 2023 but have not been registered in the mobile device management system (MDMS) implemented by Nepal Telecom Authority, the user concerned is required to pay the above-mentioned tax in lump sum mentioning the IIME number as well.


"Tax would be charged at the rate of Rs 10,000 per iphone and a mobile set priced over Rs 100,000. similarly,  Rs 3,000 per set of other smart phones and Rs 200 per set for other feature phone sets except smartphones," the Finance Bill reads.


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However, the NTA shall register one mobile phone set free of charge if a person using the mobile phone provides evidence that one had gone on foreign employment taking the labor approval and returned home after staying abroad for more than six months.


Likewise, the government has levied one percent service charge for persons going on foreign employment. "An individual who has acquired a license for operating foreign employment business shall have to pay the Foreign Employment Service Charge at the rate of one percent on the amount collected from the person who is on foreign employment," states the Finance Bill.


This amount collected from Foreign Employment Service Charge would be spent for the welfare of the person going on foreign job, it is stated. 


The foreign employment placement entrepreneur should deposit this amount in the revenue account within the 25th day of each month and forward the related statement to the Revenue Office concerned. The Finance Bill states that this fee would be recovered at a 15 percent interest rate in case of failure to deposit the foreign employment service charge.


(RSS)


 

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