Kumari Bank Tops Taxpayers as Commercial Banks Contribute 12% of Nepal’s Total Income Tax
Nepal’s commercial banks paid NPR 32.8B in income tax last year, contributing 12.26% of the nation’s total tax revenue, with Kumari Bank leading the pack.
Nepal’s commercial banks paid NPR 32.8B in income tax last year, contributing 12.26% of the nation’s total tax revenue, with Kumari Bank leading the pack.
नेपाली: वाणिज्य बैंकहरुले गत वर्ष ३२ अर्ब ८० करोड आयकर तिरे, जसमा १२.२६% योगदान रह्यो। सबैभन्दा बढी कर तिर्नेमा कुमारी बैंक अगाडि रह्यो।
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Nepal’s commercial banks contributed a significant 12.26% to the government’s total income tax collection in the last fiscal year, highlighting the sector’s crucial role in state revenue.
According to official data, the government collected a total of NPR 267.6 billion in income tax during the year, of which NPR 32.8 billion came from the 20 commercial banks. This marked a notable rise from NPR 26.5 billion paid in the previous fiscal year. Collectively, the banks reported a profit of NPR 71.5 billion, on which the taxes were levied.
Top Taxpayer Banks
Kumari Bank led all institutions, paying NPR 3.66 billion in taxes — a sharp rise compared to just NPR 994 million in the prior year.
Nabil Bank followed with NPR 3.21 billion, up from NPR 2.39 billion last year.
Nepal Investment Mega Bank came third, contributing NPR 2.85 billion, an increase of 83.4%.
Global IME Bank ranked fourth with NPR 2.57 billion, though this was 6% lower than the prior year.
Everest Bank completed the top five, paying NPR 2.53 billion, up 29% year-on-year.
At the lower end, NIC Asia Bank paid the least tax at just NPR 55 million, a steep 78% decline from the NPR 244 million it paid the year before.
Overall, 16 out of 20 commercial banks increased their tax payments compared to the previous fiscal year, while four banks, including NIC Asia, Prabhu Bank, Citizens Bank, and Global IME, paid less.
The data underscores the varying profitability and tax burden among Nepal’s top lenders, with Kumari Bank emerging as the leading taxpayer in the sector.