Excise duty on smartphones decreases by 50% in Nepal

Hello Nepalese, the price tag of the smartphone in Nepal is quite heavy due to the implementation of 13% vat on this Smartphone and 5% excise duty more added on the SP, isn’t it?

Accordingly, the importers had to pay quite a lot of taxes to the government. Because of those tax amounts smartphone prices were very high but in the recent Annual Budget Speech for fiscal year 2076/77.

The Honourable Finance Minister of Nepal, Dr. Yubaraj Khatiwada announced to decrease the excise duty by 50%. (i.e. the total 18% tax will be reduced to 15.5%) which will affect whole smartphone prices in Nepal. The VAT, however, still remains at 13% but excise duty will be 2.5% only.

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