The Nepal government has increased the personal income tax limit to 1 million.
Finance Minister Dr Swarnim Wagle stated this information while presenting the budget for the fiscal year (FY) 2083/084 in Federal Parliament today.
Earlier, such a limit was up to 5 million. In addition, the excise duty imposed on 360 individual items has also been eliminated.
The income tax payable by working citizens on their wage income was the highest in South Asia.
The government has expanded the tax limit in the budget for the upcoming fiscal year, providing relief for those who earn their living through work.
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