Google, a leading technology company has registered in Nepal’s tax system as per the announcement made by the Inland Revenue Office. The company has registered under the Larger Taxpayer Office (ठूला करदाता कार्यालय), Lalitpur, and will pay taxes on various services and products available in Nepal, including electricity services.
According to Raju Prasad Pyakurel (spokesperson for IRD), the Goggle company will pay taxes as they will provide electricity service and other products available in Nepal, following the country’s Fiscal Year 2079/80.
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The company has already registered its office in Singapore which will be responsible for the administration of the electricity service tax. The government of Nepal has applied a 2% rate on the business value of the electricity service which is provided to Nepalese consumers residing outside of the country since Fiscal Year 2079/80.
Although the revenue generated by providing services to consumers will be subjected to the tax rate, the total revenue generated from Nepal is not yet available. (Google Registers in Nepal’s Tax System)
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Perks of Google Registers in Nepal’s Tax System
Well, we know that Google is a large company, where the flow of money is exchanged with the services they provide. With Google being registered in Nepal’s tax system, it will ensure transparency and accountability in the country’s tax administration, preventing tax evasion and ensuring compliance with the country’s tax laws.
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While also strengthening Nepal’s business environment, attracting foreign investment, creating job opportunities, and contributing to the country’s economic growth.
Nepal’s citizens benefit from Google’s services, including its search engine, YouTube, and Android operating system, as well as web browsing, cloud computing, Gmail, maps, and photos.
Conclusion:
The registry of large companies like Google in Nepal’s Tax System will ensure a fair share in Nepal’s economy while promoting sustainable development and benefiting the Nepalese people.
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