Govt to ensure income tax waiver for 10 years with easy loan for startups « Khabarhub
Monday, June 24th, 2024

Govt to ensure income tax waiver for 10 years with easy loan for startups

19 May 2024  

Time taken to read : 2 Minute

  • A
  • A
  • A

KATHMANDU: The government is set to promote and facilitate investment for startups enterprises.

The ‘National Startups Policy, 2080’ adopted and enforced by the meeting of the Council of Ministers has specified arrangements to provide waivers and facilities, facilitate investment, ease policy and legal provisions and assure commercial safety.

“Exemption has been made on the costs involved in the registration of enterprises, renewal and registration of industrial properties, the police stated.

It added that the facility and concession will be provided to the entrepreneurs on seed money, human resource development, consultancy and technical assistance, concessional loan and cash incentives on exports.

An arrangement has been made to waive income tax up to 10 years after the establishment of startup enterprises, according to the policy.

Necessary arrangement will be made to provide loan on concessional interest rates from banks and financial institutions, it is stated.

Banks and financial institutions shall be obliged to invest certain percent of the loan flow to startup enterprises.

A separate fund will be instituted to promote new thoughts and innovative enterprises and subsidy will also be provided on the loan to be provided by the banks and financial institutions for startups and innovations, the policy noted.

Publish Date : 19 May 2024 07:42 AM

Today’s national news in a nutshell

Khabarhub brings you a glimpse of major developments of the

Weather station established in Beni

MYAGDI: A weather station has been set up in Beni,

NA session: Lawmaker Subedi urges ruling, opposition parties to work together on corruption control

KATHMANDU: CPN-Maoist Center lawmaker Jhakku Prasad Subedi has underscored on

Nepalgunj Submetropolis unveils budget exceeding 1.5 billion for upcoming FY

NEPALGUNJ: The Nepalgunj Sub-Metropolitan City in Banke has presented a

Ram Bahadur Bamjan convicted in child sexual abuse case

SARLAHI: The alleged ascetic, Ram Bahadur Bamjan, has been convicted