Imports and exports are now commonplace jobs in all countries around the world. To import items from another country, an LC (Letter of Credit) must be issued. We’ll go over what an LC is and how to make one.Letters of credit are a reliable payment mechanism in business because the nature of international trade includes …
A capital gains tax is a tax levied on the profit made on the sale of non-professional property. According to Subsection 4 of Section 2(r) of the Income Tax Act of 2058 (2002), if there is a capital gain on nonprofessional property, a Capital Gain Tax must be paid. There is a rule in place …
You must be interested in learning more about VAT and PAN. PAN is a number given to any individual for the purpose of tax identification. A PAN certificate is issued following PAN registration. The aforementioned PAN number is VAT registered. There is no distinction between VAT and PAN numbers. When registering under PAN, the same …
What is the Difference Between Excise Duty and Custom Duty in Nepal? The government uses welfare state duties as a source of revenue to fund a variety of social and development projects. The government is able to run the state because of taxes and duties. The Excise Duty Act, 2058 (2001) was passed in order …
WHAT EXACTLY IS PAN? According to Section 78 of the Income Tax Act of 2058 (2002), the Inland Revenue Department is required by law to issue Permanent Account Numbers (PANs). A Permanent Account Number (PAN) is a number issued by the Inland Revenue Department in the form of a laminated card to any “person” who …