PM wrongly claims Nepal has lowest taxes

Injina Panthi / August 31, 2018

.                                                                                                                                                      Photo: Youtube

In the “Janatasanga Pradhanmantri” program aired on Nepal Television on August 22, Prime Minister KP Oli said, “We have the lowest tax rates in the world. Goods are cheapest here.”

South Asia Check has studied the tax rates in a few Asian countries:

 Countries Personal Income Tax Corporate Income Tax VAT/GST
Nepal Minimum-1% , Maximum-36% Min 20%, Max 30% 13% VAT
India Minimum 0%, Max. 30 %

(In India 4% Education and Health Cess is charged after 2,50,000/-)

 25% 28%, 18%, 12%, 5%, 0%

GST (goods and services tax)
China Min.3% Max. 35% Min.20%, max.25% VAT 0%, 6%, 11%, 13%, 17%
Bhutan Min.0% Max.25% 30% Not available
Maldives No Personal Income Tax 15%- Companies, Partnerships and other Persons

5% – Profit from sources outside Maldives

10% – Withholding tax

Min. 5%, Max.15%

 12% GST in tourism sector
Thailand Min.5%, Max.35% Min.2%, Max.20% 7% VAT

This shows the prime minister’s claim that Nepal has the lowest tax rates is wrong.

 

References:

Thailand:

The Revenue Department (VAT)  http://www.rd.go.th/publish/6043.0.html

Corporate Income Tax (http://www.rd.go.th/publish/6044.0.html)

Personal Income Tax  http://www.rd.go.th/publish/52286.0.html

India:   

Income tax department

https://www.incometaxindia.gov.in/hindi/Pages/charts-and-tables.aspx

Good and Service rate Council   http://gstcouncil.gov.in/sites/default/files/NOTIFICATION%20PDF/goods-rates-booklet-03July2017.pdf

Good and Service Rate Council http://gstcouncil.gov.in/sites/default/files/NOTIFICATION%20PDF/services-booklet-03July2017.pdf

China:

State Administration of taxation of The People Republic of China  http://www.chinatax.gov.cn/eng/n2367731/index.html

Maldives:

Maldives Inland Revenue Authority

Business Profit Tax: https://www.mira.gov.mv/Bpt.aspx

GST: https://www.mira.gov.mv/Gst.aspx

Bhutan:

Department of Revenue and Customs, Bhutan

Personal Income Tax: http://portal.drc.gov.bt/drc/node/25

Corporate Income Tax: http://portal.drc.gov.bt/drc/node/29

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