Tax exemption will also be given to those who give rent exemption
By Rabindra Dhungel, Kathmandu, Fri, 10 Aug 2020 . Kathmandu Metropolitan City has announced to give annual house renovation tax exemption to the house owner who gives house rent waiver.
Considering the impact of Covid-19, which has spread as a global epidemic, on the residents living in rented houses, the tenants will be given 10 percent exemption in the annual restoration tax if they come to pay the house restoration tax in the fiscal year 2076/77.
However, in the case of taxpayers who have already paid the restoration tax exemption for renting house, land and property in the fiscal year 2076/77, if the landlord who has given at least one month’s house restoration exemption due to COVID-19 declares the exemption, the annual tax should be paid in the fiscal year 2077/78. The restoration tax will be reconciled by giving ten percent discount in the restoration tax, ‘it has been mentioned in the economic bill.