PM wrongly claims Nepal has lowest taxes
Injina Panthi / August 31, 2018
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.
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
Income tax department
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
State Administration of taxation of The People Republic of China http://www.chinatax.gov.cn/eng/n2367731/index.html
Maldives Inland Revenue Authority
Business Profit Tax: https://www.mira.gov.mv/Bpt.aspx
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
This material is copyrighted but may be used for any purpose by giving due credit to southasiacheck.org.
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