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

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.