Demand Not To Levy Income Tax On IT Industry For 10 Years The Nepal Association for Software and IT Services Companies (Nash IT) has given various suggestions for the budget for the financial year 2081/82. Holding a press conference in the capital on Sunday, the organization gave various suggestions to develop Nepal as a global tech hub.
To compete with the world from next year’s budget, Nash IT has demanded to arrange zero percent corporate tax and eight percent export credit facilities by moving forward with the tax incentive policy for 10 years.
Similarly, through the budget, to arrange loans to provide financial access to information technology startups and entrepreneurs, to provide insurance policies for IT companies and subsidize 90 percent of the premium cost for five years, to operate IT parks and IT hubs, to give preference to local companies when purchasing software, to participate in international IT exhibitions. Lin, the organization suggested setting up a branch office abroad and arranging for the formation of an IT board.
In addition, it has been suggested to cooperate with the embassy to promote Nepali IT companies, products, and industries, to treat large software as infrastructure projects, to encourage public policy partnership (PPP model), and to improve the procurement process.
It has been suggested that the IT Board established for the development and promotion of technology should be an autonomous body and a separate law should be adopted for that purpose. According to Nash IT, the government can rent 15,000 to 30,000 square feet of buildings located in different parts of the city and turn them into small IT parks by providing IT park facilities.