KATHMANDU: Gold and silver traders have welcomed the government’s decision to levy luxury tax on gold only once during transactions.
Issuing a statement on Monday, the Federation of Nepal Gold and Silver Dealers’ Association said it appreciates the government’s move, which was recently published in the Nepal Gazette.
According to the Federation, the revised provision ensures that luxury tax will now apply to gold transactions at only a single stage. The Federation also confirmed receiving the new guidelines on luxury tax implementation for 2025, issued by the Inland Revenue Department earlier today.
The umbrella body has urged all traders under its network to conduct business in line with the amended tax provision.
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