Tax reduced, Now Banks easy to get foreign loans

May Sat 2020 10:06:22

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Tax reduced, Now Banks easy to get foreign loans

The government will make it easier for banks to bring in loans from abroad. Taxes on interest earned by foreign institutions or banks have been reduced. As a result, banks are more likely to borrow from abroad. The new budget has reduced the tax on interest payments on loans taken by banks from abroad. The government has reduced the tax to 10 percent after banks demanded that the tax be reduced to 5 percent.

There was an arrangement to take 15 percent tax on the interest earned by foreigners. There was an arrangement to take 15 percent tax on the interest earned by foreigners. Banks have been taking loans from foreign institutions and banks with the approval of NRB.

Last year's monetary policy facilitated the introduction of such loans. There was an arrangement to pay 15 percent tax on the interest earned by foreigners after investing here. The current budget has reduced the tax from 15 percent to 10 percent.