Nepal's fiscal year runs from the first day of Shrawan to the last day of Ashadh in the Bikram Sambat calendar — roughly mid-July to mid-July. Most periodic tax obligations are expressed in terms of these Nepali months.
Monthly obligations
Registered persons generally file VAT returns and deposit VAT for each month within 25 days of the end of that month. Tax withheld at source (TDS) is similarly deposited within 25 days of the end of the month in which it was withheld.
Advance tax instalments
Persons required to pay tax in instalments generally do so in three instalments during the year, by the end of Poush, Chaitra and Ashadh, with cumulative percentages of the estimated annual liability set out in the Income Tax Act.
Annual income tax return
The annual income tax return is generally due within three months after the end of the fiscal year — that is, by the end of Ashwin — with the possibility of an extension on application in accordance with the Act.
Deadlines, rates and procedures change through Finance Acts and notices of the Inland Revenue Department. Always confirm the current requirement before relying on these general timelines.
References
- Fiscal year
- Income tax
- VAT
- TDS