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Nepal revises income tax slabs for individuals for FY 2022/23. Here are the details

Representational file

Kathmandu, May 30

Through the new budget plan announced on Sunday, the government has revised income tax slabs for individuals. The new provision will come into effect from mid-July as the new fiscal year begins then.

The revision will give relief to people with low regular incomes.

See the tables below to know details of the new tax rates.

For unmarried people

Annual incomeTax rateTax amountAnnual tax amount
Up to Rs 500,0001%Rs 5,000Rs 5,000
Additional Rs 200,00010%Rs 20,000Rs 25,000
Additional Rs 300,00020%60,000Rs 85,000
Additional Rs 1 million30%Rs 300,000Rs 385,000
Any additional amount above Rs 2 million36%

For married people

Annual incomeTax rateTax amountAnnual tax amount
Up to Rs 600,0001%Rs 6,000Rs 6,000
Additional Rs 200,00010%Rs 20,000Rs 26,000
Additional Rs 300,00020%60,000Rs 86,000
Additional Rs 900,00030%Rs 270,000Rs 356,000
Any additional amount above Rs 2 million36%

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