Tax Payment via payment wallet systems to be free till Poush

Nepal Rastra Bank has made an addition to its directive concerning the payment service providers in Nepal.

All the payment service providers associated with the Revenue Management Information System, Government of Nepal, are obliged to not charge any service fee for revenue collection from their payment wallets until Poush this year.

Also, the addition has determined the maximum amount of service fee allowed to be charged after Poush. As of the new update, transaction of any amount up to Rs. 1,000 transferred for tax payment from these wallets will be free. Rs. 5 is the maximum service charge for Rs. 1,001 to Rs. 3,000. Similarly, for tax amounting from Rs. 3,001 to Rs. 10,000, Rs. 10 is the permissible service charge. Finally, payment service providers can not charge more than Rs. 30 for tax amount transfer of more than Rs. 10,000.

This update will likely encourage online payment of government revenue and can also be taken as a relief to taxpayers.