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Government heeds investors’ demand, revokes decision to increase CGT on shares

Investors organising protest at Nepal Atock Exchange on Wednesday, June 6, 2018.

Kathmandu, June 6

The government has revoked its decision of changing the rate of capital gains tax calculation after investors protested the decision.

Whereas the government used to enforce five per cent CGT on the trade of bonus and rights share in the secondary market. Along with the increase in the CGT to 7.5 per cent through the federal budget 2018/19 on May 29, the Inland Revenue Department had also changed the CGT calculation method.

The government will now continue to calculate CGT using the previous rate.

The investors had been organising different forms of protests, shutting down the office of Nepal Stock Exchange against the government decision to impose capital gain tax on the difference of market price and base price of bonus and right shares.

“The Ministry of Finance has sent a letter to the Inland Revenue Department ordering them to calculate CGT using precious rate,” informed Jhakka Prasad Acharya, spokesperson at the Ministry.

 


Published on June 6th, Wednesday, 2018 2:28 PM


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