Tax Exemption For Businessmen Employing 20 People For Three Years

Jun 14, Kathmandu- The Kathmandu Metropolitan City has announced a 100 percent discount on business tax for the first three years for businessmen who employ at least 20 people from the next fiscal year. This was announced by Metropolitan Chief Balendra Shah while presenting the policy and program of the upcoming financial year 2081/82 of Kathmandu metropolis on Friday.

He said that at least 30 percent of the required manpower in the development and construction program to be implemented by the Kathmandu Metropolitan City will be arranged through the Labor Bank of the Metropolitan City. He informed that by establishing a cooperative information center, savings collection, loan mobilization and the organization's governance will be made effective.

He said that arrangements will be made to distribute scholarships provided by non-governmental organizations to community and institutional schools through a one-door system of Kathmandu Metropolitan City. According to him, necessary arrangements will be made for job creation so that students can work part-time while studying and earning.

"Educational and physical quality of public schools will be improved to develop the ability of students to compete at the international level", he said, "Necessary arrangements will be made for the creation of jobs for the students to work part-time while studying and earning according to the concept."

He said that the movable assets of the community schools within the Kathmandu Metropolitan City will be used only for educational purposes. He said that the rights given by the constitution will be used to the maximum to realize the concept of 'cultural city, prosperous metropolis'.