The world’s largest technology company, Google LLC (Limited Liability Company), has registered in Nepal’s tax system. As mentioned in the news published in Gorakha Patra, Google has registered with the large taxpayer office under the Internal Revenue Department.
According to the spokesperson of the department, Raju Prasad Pyakurel, Google has registered to pay the tax as per the fiscal year 2079/80’s Financial Act implemented by the government.
Google LLC (Limited Liability Company), the world’s largest technology company, has registered in Nepal’s tax system. According to a news article published in Gorakha Patra, a Nepalese newspaper, Google has registered with the large taxpayer office under the Internal Revenue Department.
This move comes after the Nepalese government implemented the Fiscal Year 2079/80 Financial Act, which requires businesses to pay the tax. As per the act, Google has registered to pay this tax.
The registration of a company like Google in Nepal’s tax system is a significant development as it highlights the country’s increasing role in the global technology sector. It also indicates the government’s efforts to ensure that all businesses operating in the country are paying their fair share of taxes.
Overall, this development is likely to have a positive impact on Nepal’s economy as it will increase the government’s revenue and contribute to the country’s growth.
According to the department, Google has registered under the name of its regional office located in Singapore. There is no information available on whether the company will open an office in Nepal. The department responsible for administering the IT service tax has assigned responsibility to the large taxpayers’ office located in Harihar Bhawan, Lalitpur, to oversee the implementation.
Starting from the fiscal year 2079/80, the government has levied a two percent service charge on the value of IT services provided to non-residents of Nepal. Accordingly, Google will have to pay the service charge for services it provides to Nepali consumers. The total amount earned by Google from providing services to Nepali consumers, on which the two percent service charge is levied, will have to be reported and paid to the Nepali government.
However, there is no official data available on Google’s annual revenue earned from Nepal. Therefore, it is not known how much the company will have to pay in service charges.