Kathmandu, February 11
The government on Tuesday launched a system to give the customers a 10 per cent cashback on the value-added tax that they need to pay for any good or service if they make the payment via card.
Finance Minister Yuba Raj Khatiwada had announced to give the customers the cashback to promote the use of non-cash payment systems in his budget announcement for the fiscal year. Earlier, the ministry had planned to launch the system on January 10, but minister Khatiwada inaugurated the system on Tuesday only.
To receive the cashback, the customers need to purchase goods or services from the traders who have the system and the VAT amount should be between Rs 1,000 and Rs 100,000.
The Inland Revenue Department hopes that the system will also motivate the customers to obtain a bill while making any purchase.
Published on February 11th, Tuesday, 2020 12:03 PM