Kathmandu. Kathmandu: The government has abolished the import of machinery, equipment and sports equipment required for the construction of football, cricket and multi-purpose stadium infrastructure by imposing 1 percent customs duty and abolishing other taxes and duties.
Deputy Prime Minister and Finance Minister Bishnu Prasad Poudel said this while allocating the budget for the upcoming fiscal year. He said that advance income tax levied on vegetable, animal products and milk products, including food grains, legumes, fruits, has been abolished.
He informed that the value-added tax (VAT) levied on hearing aids required for hearing impaired people has been abolished.
Passengers entering Nepal by air or land will be able to bring foreign currency or travelers’ checks worth US $ 5,000 exchanged in Nepal and declare more than that at the customs point.
He said that the existing price limit of Rs 1.6 million has been removed on ambulances carrying patients who can be imported under revenue exemption facility. He said that all types of taxes and duties imposed on such vehicles have been kept unchanged to reduce environmental pollution by encouraging the use of electric vehicles and to increase the internal consumption of electricity.
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