Startups Policy in Nepal : Startups will be exempted from income tax for 10 years.

May Mon 2024 01:36:37

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Startups Policy in Nepal : Startups will be exempted from income tax for 10 years.

The government is going to give income tax exemption to startups for 10 years. In the National Startup Enterprise Policy 2080, recently passed by the government, it has been mentioned that there will be provision for income tax exemption for ten years after the start of the startup enterprise.

In the policy brought to increase production and create jobs by promoting entrepreneurship, it is arranged to operate an innovation center, develop a portal called Startup Nepal, and provide priority to start-up businesses in industrial villages, industrial areas, special economic zones and other potential areas to provide land and infrastructure.

In the same policy, topics such as encouraging the participation of entrepreneurs in enterprise-related programs organized at the national and international levels, implementing a credit guarantee scheme for safe investment management, amending the laws necessary to allow startups to enter the capital market, and reviewing the minimum limit of foreign investment have also been included in the policy.

In addition, the conditions and procedures for allowing private equity funds investing in the startup industry to enter the capital market will be simplified, in the case of private equity and venture capital once approved to invest in Nepal and reinvesting the money earned from foreign investment in the startup business, the foreign investment limit will not be attracted and the approval It is also stated in the policy that unnecessary legal arrangements will be made.

Similarly, there will be an institutional arrangement of Nepal Startup Council and Nepal Startup Board for the development and promotion of startups.

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