Kathmandu. KATHMANDU: The government is to amend the legal provisions to bring Non-Resident Nepalis (NRNs) into the stock market. Presenting the budget for the fiscal year 2083-84 in the joint meeting of both the Houses of Federal Parliament on May 29, Finance Minister Dr. Swarnim Wagle has made this announcement.
Minister Wagle said the legal provisions related to foreign investment approval, investment accounting, profit return and capital gains tax would be amended to bring non-resident Nepalis into the secondary market.
Similarly, the government has limited the customs rate to seven levels. Likewise, Finance Minister Wagle also announced that customs rates of 11 different levels have been reduced to seven levels.
He also informed that excise duty on 360 different items has been scrapped through the budget.
