What is PAN? PAN and VAT No. Is it the same or different? PAN stands for Permanent Account Number, which is 9 digits long. Just as there is a citizenship number that identifies a citizen, there is a roll number that identifies a student, there is a separate account number for opening an account in a bank, so there is a unique number that identifies a person/entity doing business. That is called...
Introduction Entrepreneurship is a key driver of innovation, economic growth, and job creation in today’s rapidly evolving global economy. However, one of the aspiring entrepreneurs’ most significant challenges is securing the necessary funding to bring their ideas to life. This is where startup loans come into play, providing critical financial support to new businesses in their...
Introduction In the socio-economic landscape of Nepal, the youth population is a critical driver of growth and development. However, the nation faces significant challenges in providing adequate employment opportunities to its burgeoning youth population. Amidst this backdrop, the Government of Nepal introduced the “Yuba Swarojgar Karja” (Youth Self-Employment Loan) program. This...
Introduction Taxation is a critical component of any country’s economic framework, providing the necessary resources for development and governance. Nepal’s taxation system, while evolving, is characterized by its unique structure and numerous challenges. This blog explores the various aspects of the Taxation System of Nepal, including its structure, types of taxes, challenges, and...
Outline Introduction Brief overview of liquidation Importance of understanding liquidation processes in Nepal Understanding Liquidation Definition of liquidation Types of liquidation: Voluntary and Involuntary Legal Framework in Nepal Companies Act, 2006 Insolvency Act, 2007 Role of regulatory bodies Voluntary Liquidation Process Eligibility criteria Steps involved Resolution by shareholders...
Introduction Banijya registration, or business registration, is a crucial step for entrepreneurs and businesses in Nepal. It establishes the legal identity of a business, enabling it to operate within the country’s regulatory framework. This guide aims to thoroughly understand the process, requirements, and benefits of Banijya registration in Nepal. 1. Overview of Banijya Registration...
Auditing is a crucial aspect of financial management and corporate governance, ensuring transparency, accountability, and accuracy in financial reporting. In Nepal, auditing plays a significant role in maintaining the integrity of businesses, government institutions, and non-profit organizations. This comprehensive guide will explore the auditing landscape in Nepal, covering its importance...
The Ultimate Guide to Accounting Services in Nepal: What Businesses Need to Know Introduction In today’s competitive business environment, maintaining accurate financial records is crucial for the success and sustainability of any business. In Nepal, the demand for professional accounting services has grown significantly as businesses seek to comply with regulatory requirements and optimize...
Step-by-Step Guide: Preparing a Projection Report and Loan Proposal for Bank Loans in Nepal Introduction Securing a bank loan in Nepal for business purposes requires more than just basic documentation; it often necessitates a detailed projection report and a well-crafted loan proposal. These documents demonstrate your business’s financial health, future growth potential, and your ability to...
Registering a contract office in Nepal for international companies is a specific process that allows foreign businesses to establish a presence in Nepal for a limited period to undertake a specific project or contract. Here is a step-by-step guide and an FAQ section to help you understand the process: Steps for Contract Office Registration in Nepal 1. Preliminary Preparations Project Approval:...