Government Grants 5-Year Income Tax Exemption to Startups
According to the budget statement, startups with an annual turnover of up to NRs. 10 crores will be exempted from income tax for a period of five years.
In a major boost to the entrepreneurial ecosystem, the Government of Nepal has announced an income tax exemption for startups through the fiscal year 2081/82 budget.
According to the budget statement, startups with an annual turnover of up to NRs. 10 crores will be exempted from income tax for a period of five years. The move aims to encourage innovation, promote youth-led ventures, and reduce the financial burden on emerging businesses.
This decision is expected to create a more startup-friendly environment and support the growth of small and medium enterprises (SMEs) across the country.
The government believes that fostering startups will contribute to job creation, technological advancement, and long-term economic development.