PAN made compulsary from Baisakh 02, 2076; PAN number required for transactions above Rs 5 lakh

The Securities Board of Nepal (SEBON) had been working on implementing the Compulsory PAN system in the Nepali Capital Market.

PAN - Permanent Account Number, is a code that acts as an identifier for individuals and companies alike. The PAN helps in tracking the source of money, which eventually promotes transparency in the market.

The PAN system will be made effective from Baisakh 02, 2076. The small investors, however, won't require PAN Identification. The PAN Id will be required for any transactions above Rs 5 lakh.