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National Startups Policy: 10-year income tax waiver and accessible loans for startups

B360 May 19, 2024, 11:28 am
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KATHMANDU: The government is set to promote and facilitate investment for startup enterprises. 

The 'National Startups Policy, 2080', endorsed and put into effect by the Council of Ministers' meeting on May 2, has detailed strategies to offer waivers and amenities, boost investment, ease policy and legal stipulations, and guarantee commercial security.

"Reliefs have been provided on the expenses related to the registration of enterprises, renewal, and registration of industrial properties. Support and concessions will be given to entrepreneurs on seed money, human resource development, consultancy and technical assistance, concessional loans, and cash incentives on exports", the policy expressed.
A measure has been introduced to exempt income tax for up to 10 years after the establishment of startup enterprises, according to the policy.
Provisions will be made to provide loans at concessional interest rates from banks and financial institutions (BFIs), it was mentioned. The BFIs will be mandated to dedicate a certain percentage of the loan flow to startup enterprises.

A separate fund will be created to nurture innovative enterprises and fresh ideas, and a subsidy will also be offered on the loans extended by banks and financial institutions for startups and innovations, the policy underscored.

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JUNE 2024

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