Nepal Tax Agency Posts Notice on Electronic VAT Invoice Requirement Changes

The Nepali Inland Revenue Department June 17 posted online a notice of additional taxpayers required to issue VAT invoices electronically for the upcoming fiscal year. The notice explains that the requirement newly applies to: 1) taxpayers with turnover from goods and services exceeding 100 million Nepalese rupees (US$782,204) for income statement and VAT purposes, with certain exceptions for financial institutions; and 2) all theaters in the box office system, including outside Kathmandu Valley. The requirement continues to apply to specified taxpayers including as hotels, restaurants, and internet service providers with turnover above 50 million rupees (US$391,102), and furniture and flooring ...