Cabinet Approves New 3.5% and 5% Advance Tax Rates on Securities Gains
Summary
The Cabinet has approved new advance tax rates of 3.5% and 5% on gains from securities listed with SEBON, with the rate based on how long the securities were held. The government also approved measures on digitalising decision-making, promotions in the civil service, and legal support for Nepali citizens affected in Saudi Arabia.
Key Points
- Natural persons will pay a 3.5% capital gain tax on securities held for more than 365 days and a 5% tax on securities held for 365 days or less.
- The Cabinet decision was announced by Government Spokesperson and Education Minister Sasmit Pokharel.
- The government approved regulations on simplifying and digitalising decision-making procedures and a cyclic relief fund operation procedure.
- It also approved power of attorney for a Saudi Arabian lawyer to pursue insurance and compensation claims for Nepali citizens injured or killed in Saudi Arabia.
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