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Taxation in Nepal syllabus

ACS 2019 units · 33 topicsAcademic year 2083/84
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Taxation in Nepal

9 units

1. Introduction (8 LHs)

  1. Concept and definition of tax
    1. Concept and definition of tax
  2. Sources of financing in Nepal
    1. Sources of financing in Nepal
  3. Difference between Tax, duty, charge and fee
    1. Difference between Tax, duty, charge and fee
  4. Direct tax and indirect tax
    1. Direct tax and indirect tax, Impact of direct and indirect tax in Nepalese economy, Tax on capital (Tax on land, land transfer, motor vehicle, house and land tax). Income year and assessment year, difference between withholding and final withholding payment, exempt amount, exempt organization, differences of retirement fund, retirement contribution and retirement payment.

2. Historical knowledge of income tax law in Nepal (4 LHs)

  1. Business
    1. Business, Profit and Remuneration Tax Act 2017, Nepal income Tax Act 2019, Income Tax Act 2031, Income tax Act 2058, Income Tax Rules 2059.

3. Corporate Income Tax (12 LHs)

  1. Introduction and Development of corporate income tax
  2. Exemptions
  3. Tax exempted institutions
  4. Tax deduction at source and its treatment
  5. Computation of assessable income

4. Customs Duties (4 LHs)

  1. Introduction and evolution of Customs
  2. Import and export procedures
  3. Provisions regarding Jhitigunta
  4. Classification of commodities under harmonized system
  5. Customs administration

5. Excise Duties (4 LHs)

  1. Introduction and evolution of excise
  2. Classification of excisable products
  3. Obtaining of license and its termination
  4. Determination of factory price
  5. Physical control system
  6. Method of excise Assessment
  7. Recovery ratios, exemptions, fines and penalties

6. Concept of Tax Planning and Tax Management (4 LHs)

  1. Concept of tax planning, tax management and scope and significance
  2. Tax evasion, tax avoidance, tax delinquency
  3. Difference between tax planning and tax evasion

7. Capital Gain Tax (4 LHs)

  1. Concept of capital gain and capital gain tax
  2. Computation of capital gain on disposal of depreciable assets
  3. Provisions for adjustment and carry-forward of capital loss

8. Penal Provision, prize and other incentives (5 LHs)

  1. Concept of penalty and offence
  2. Provision of interest for underestimating tax payable by installment and delay or fail to…
  3. Failure to pay tax

9. Tax assessment and return of income (3 LHs)

  1. Concept of tax assessment
  2. Self- assessment