FNCCI Proposes 1% Income Tax for IT Export Companies for Five Years
The Federation of Nepalese Chambers of Commerce and Industry (FNCCI) has proposed a 1% income tax rate for IT service export companies for up to five years.
The Federation of Nepalese Chambers of Commerce and Industry (FNCCI) has urged the government to implement a policy of charging only 1% income tax for up to five years on export-oriented information technology (IT) firms and companies.
Submitting recommendations for the upcoming national budget, FNCCI proposed tax incentives for companies engaged in IT service exports.
According to FNCCI, the information technology sector is an emerging pillar of the economy, and such tax provisions are necessary to support its growth, promote exports, and expand employment opportunities.
The federation further stated that this policy would help attract investment in the IT sector, create more jobs, reduce the trade deficit, and boost export performance.