(1) An industry registered under this Act shall receive exemptions, facilities or concessions as per prevailing laws relating to taxation.
(2) Without prejudice to the generality of sub-section (1), the following income tax exemptions, facilities or concessions shall be provided to the industry:-
(a) There will be a twenty percent discount on the tax rate on the income earned by the manufacturing industry and an additional five percent income tax discount on the tax rate on the income earned by such industry by exporting its products,
(b) Forty percent discount on the tax rate on the income received from the investment and operation of infrastructure such as roads, bridges, tunnels, ropeways, railways, trams, trolleybuses, airports, industrial structures and infrastructure complexes,
(c) Productive industries other than fruit-based brandy, cider and wine manufacturing industries established in very underdeveloped, underdeveloped and underdeveloped areas mentioned in Schedule-10 for ten years from the date of commencement of commercial production at the rate of income tax levied according to prevailing laws respectively. Seventy percent off,
(d) Forty and twenty-five percent income tax exemption respectively for ten years from the date of commencement of business for fruit-based grundi, cider and wine production industries established in highly underdeveloped areas and underdeveloped areas,
(e) fifty percent discount on the rate of income tax on the income received by domestic tea production and processing industry, dairy industry dealing in milk products and textile manufacturing industry,
(f) Discount of twenty-five percent on the rate of income tax leviable on royalty income received by a person for export of intellectual property,
(g) A discount of fifty percent on the rate of income tax levied on the income received by a person by way of sale of intellectual property,
(h) Manufacturing or service industries that are established with a capital investment of more than one billion and provide direct employment to more than 500 people throughout the year are fully exempted from income tax for five years from the date of commencement of business and for the following three years.50 percent income tax exemption from taxes up to, but if such industries that are currently operating increase their capacity by at least 25 percent and generate 2 billion in capital and provide direct employment to more than 300 people throughout the year, the income received from such capacity increase will be fully exempted from income tax for five years and for the next three years. Fifty percent of the tax will be exempted from income tax.
(i) For the first ten years of full income tax exemption and fifty percent income tax exemption for the following five years for the licensed person or entity that starts commercial production, transmission or distribution of hydroelectricity, or the electricity project generated from solar, wind and biological materials until the year 2080 Chaitra month, but this In the case of license holders who have started commercial production at the time of commencement of the Act, the provisions at the time of obtaining the license will be applicable.
(h) A person engaged in the exploration and extraction of minerals (except limestone), petroleum products, natural gas and fuel, if he conducts commercial business up to the year 2080 Chaitra month, he will get a full income tax exemption for the first seven years from the date of operation of the business and a fifty percent income tax exemption for the next three years. ,
(k) Full income tax exemption for five years from the date of starting business and fifty percent income tax rate exemption for the next three years for industries related to the tourism sector that are established with a capital investment of more than two billion,
(l) Zoological, Geological, Biotech Park operation, technology park and software development established within the information technology park, data processing, cyber cafe, digital mapping as specified by the Government of Nepal by publishing information in the Nepal Gazette. Fifty percent exemption from tax on industrial income,
(D) The following industries employing the following number of Nepali citizens will be provided with the following discount facilities,-
(1) Production industry and information technology that provide direct employment to three hundred or more Nepali citizens throughout the year.Fifteen percent of the tax levied on it,
(2) Twenty-five percent of the tax levied on the income of that year for manufacturing industries and information technology industries that provide direct employment to twelve hundred or more Nepali citizens throughout the year,
(3) If at least fifty percent of the Nepali citizens employed as per sub-section (1) or (2) are women, Dalits or persons with disabilities, an additional fifteen percent of the tax levied on the income of such industry for that year.
(l) Uchog may deduct for income tax purposes expenses incurred for the long-term welfare or welfare of its workers and employees, such as: life insurance, health facilities, contributory social security, education and training, child care centers and sports and exercise for physical fitness, < br> (n) If a manufacturing industry employs at least ten percent of its total workforce as trainee workers, the subsistence expenses, training expenses, and expenses for developing the production capacity of the workforce employed in the industry may be deducted for the purpose of income tax calculation. (t) Out of the expenses incurred on the methods and equipment that have minimal impact on the environment including the prevention and control of pollution or the reprocessing or reuse of wasted items, up to fifty percent of the adjusted taxable income of the industrial business can be deducted in the same year and more than the limit of the adjusted taxable income of such industrial business. Expenses can be capitalized at the beginning of the next income year and deducted (h) All expenses invested in devices or equipment to help reduce debt consumption by increasing energy efficiency can be deducted for income tax purposes,
(d) To increase the productivity of the industry, among the expenses for entrepreneurship enhancement, research and development and creation of new technology, the expenses can be deducted up to fifty percent of the adjusted taxable income of all the industrial businesses operated by that person and the expenses in excess of the adjusted taxable income limit should be capitalized and deducted at the beginning of the next income year. End,
(d) Buzz related to business by industryExpenditure incurred for promotion, survey and advertisement up to the specified limit shall be allowed to be deducted for the purpose of income tax,
(N) Expenditure as prescribed for protecting the physical property of the industry and the premium paid for its insurance can be deducted for the purpose of income tax,
(p) The industry shall be allowed to deduct for income tax purposes the expenses incurred while protecting the industrial property under the registered intellectual property in Nepal in the country. (f) The industry shall be entitled to deduct for income tax purposes the fees incurred during registration abroad for the protection of the intellectual property acquired by it,
(b) One lakh rupees or five percent of the adjusted taxable income of the industry for the income tax year, whichever is less from the amount donated or gifted by the industry to the tax-exempt organization, shall be allowed to deduct the amount for income tax purposes,
(b) In certain cases, the Government of Nepal may, by publishing a notice in the Nepal Gazette, determine that the amount spent or donated for any purpose for any purpose may be fully or partially deducted for the purpose of income determination.
(3) Notwithstanding anything contained in sub-section (2), clause
of the said sub-section Except for the industries mentioned in (d), the tobacco industry and the alcohol industry will not get any of the exemptions and facilities mentioned. However, according to the prevailing law, the expenses incurred by such industries for the long-term benefit or welfare of their workers and employees, pollution prevention and control, reprocessing of wasted items, expenses invested in methods and equipment that have minimal impact on the environment, and help reduce debt consumption by increasing energy efficiency. Actual expenses incurred for business promotion including expenses invested in mechanical equipment, research and development expenses will be allowed to be deducted.
(4) An industry that is eligible for more than one exemption under this section in relation to the same income shall get only one exemption of its choice.
(5) The accumulated profits of industries other than tobacco, liquor and casinosIn case of capitalization in shares for capacity expansion of the same industry or other productive or destructive or agriculture and forest production based industries, there will be hundred percent discount on the dividend tax charged on such capitalization in the form of dividend distribution.
(6) Household industries and small industries which are registered and operating at the time of commencement of this Act and have a fixed capital of up to one million rupees and will be registered and operating in accordance with this Act shall receive a fifty percent income tax exemption.