A highly welcomed step to gather unity amongst countries in terms of attracting foreign investment and trade.

The govt of Nepal has ventured up planning to sign a agreement on Double Tax Avoidance Agreement (DTAA) with Malaysia, Singapore and England in the current fiscal  year.

Double Taxation Agreements (DTA) are treaties between two or more countries to avoid international double taxation of income and property. The main purpose of DTA is to divide the right of taxation between the contracting countries, to avoid differences, to ensure taxpayers' equal rights and security, and to prevent evasion of taxation.

As of now, Nepal has signed the DTAA with 11 countries including Norway, India, China, Pakistan, Sri Lanka, Qatar, South Korea, Mauritius, Thailand, Austria and Bangladesh. Nepal signed its first DTAA with Norway in 1996. 

Without the DTAA, an individual who expects to do a business in an outside nation is subject to pay taxes in the two nations—the nation where pay is acquired and the nation to which the organisation has a place with.

A highly welcomed step to gather unity amongst countries in terms of attracting foreign investment and trade.

#Dtaa #nepalreachingout #thankyougovt