Sunday, December 22, 2013

NRNA demands tax exemption

Non Resident Nepalis have asked the government to exempt tax to their association as other philanthropic organisations.
The Non-Resident Nepali Association (NRNA) should be registered as an entity with income tax exemption like other social organisations, demanded NRNA president Shesh Ghale in a meeting with finance minister Shankar Prasad Koirala here today.
The NRNA will be encouraged for social works, he said, demanding the government to sign double tax avoidance agreement (DTAA) and recognise NRNs as the investors and largest remittance senders through authorised channels. "Like in other countries, Nepal should also start Special Economic Zones (SEZs) to encourage foreign investment."
The association has also formed a Relief Trust for migrant workers, who are injured, and stranded in Gulf and Malaysia. "The Trust has already Rs 10 million fund," Ghale, one of the richest NRN Australians, added.
On the occasion, the minister asked the NRNA to increase investment in infrastructure development and hydropower. "The government is ready to create investment-friendly environment," he said, adding that the government had registered the NRNA also to encourage them to bring in investment.
The elected government will also continue to bring in reforms to reverse the import-based economy to production-based, Koirala said. "There is also a need to increase investment in rural areas."

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