Category: Finance

Kathmandu: The Government of Nepal has filed a lawsuit demanding over Rs 1.36 billion from Nepal Can Move Pvt Ltd and its operators, accusing them of large-scale tax evasion through concealed sales and undeclared income. The Department of Revenue Investigation (DoRI) registered the case at the High Court on Sunday, charging Nepal Can Move Pvt… Continue reading Government files Rs 1.36 billion tax evasion lawsuit against ‘Nepal Can Move’

Kathmandu: The Federation of Nepal Gold Silver Gem and Jewelry Associations has urged the government to review the decision to impose Value Added Tax (VAT) on diamond and gems, and luxury tax on gold. At a news conference today, the Federation feared that such taxes could impact the business too, while some of the businesses… Continue reading Call to review VAT, luxury tax on diamond, gems jewelries and gold

Kathmandu: A case has been formally registered against Rastriya Swatantra Party (RSP) Chairman and former Deputy Prime Minister Rabi Lamichhane at the District Court in Parsa, on charges of misappropriating funds from the Sano Paila Cooperative. Lamichhane is currently under police remand at Bhairahawa jail in connection with the high-profile Supreme Cooperative fraud case, which… Continue reading Case filed against RSP Chairman Rabi Lamichhane in Parsa over cooperative fund misuse

Kathmandu: Nepal Electricity Authority (NEA) has resumed the export of electricity to Bangladesh, sending 40 megawatts of power through India’s transmission line starting today. Nepal had exported electricity to Bangladesh for the first time on July 15, 2024, but it lasted only 12 hours. The export has now resumed after nearly a year, following a… Continue reading Nepal resumes power export to Bangladesh, to earn Rs 1.29 billion in five months

Kathmandu: Three major political parties—Nepali Congress, CPN-UML, and CPN (Maoist Center)—have reached a two-point agreement in response to the growing controversy over visit visa abuses and immigration irregularities. Signed by the chief whips of the three parties, the agreement pledges full government cooperation with the Commission for the Investigation of Abuse of Authority (CIAA), which… Continue reading Major parties sign agreement on visit visa scandal

Kathmandu: The European Union has added Nepal to its list of high-risk third-country jurisdictions for money laundering and terrorist financing, following the Financial Action Task Force’s (FATF) similar designation earlier this year. In a statement issued Tuesday, the European Commission announced the inclusion of Nepal and nine other countries—Algeria, Angola, Ivory Coast, Kenya, Laos, Lebanon,… Continue reading EU lists Nepal as high-risk country for money laundering and terror financing

Kathmandu: Nearly 138 million children worldwide were engaged in child labor in 2024, according to a joint report by UNICEF and the International Labour Organization (ILO) released Wednesday, warning that progress remains too slow to meet global eradication targets. The report reveals that 137.6 million children aged 5–17, or 7.8 percent of that age group,… Continue reading UN Report: 138 mn children still in labor, goal to end child labor by 2025 missed

Kathmandu: The International Monetary Fund (IMF) has approved $42.7 million (approximately Rs 5.84 billion) for Nepal under the sixth installment of the Extended Credit Facility (ECF), citing satisfactory progress in the implementation of the program. An IMF mission led by Sarwat Jahan visited Kathmandu from May 26 to June 10, holding discussions with Nepali officials.… Continue reading IMF approves $42.7 million for Nepal under sixth ECF review

Kathmandu: Chandra Prasad Dhakal, President of the Federation of Nepalese Chambers of Commerce and Industry (FNCCI), has engaged in discussions with international organisations regarding investment expansion and market access for small countries like Nepal in the evolving economic landscape. During separate meetings held on the occasion of the 113th International Labour Conference in Geneva, Switzerland,… Continue reading FNCCI held discussion on multilateral trading system with IOE and WTO

Kathmandu: A labour agreement has reached between Nepal and Saudi Arabia.During the sideline bilateral meeting and discussion on Tuesday, the landmark agreement took place between Minister for Labour, Employment and Social Security, Sharat Singh Bhandari, and Saudi Arabia’s Deputy Minister of Foreign Affairs, Tariq Al Hamad for sending Nepali workforce to Saudi Arabia, informed Minister… Continue reading Labour agreement reached between Nepal and Saudi