Budget for FY 2026/27: NAS-IT hails establishment of IT sector as basis of economic transformation

Kathmandu, June 3: Positive initiatives taken by the government to establish information technology sector as the major basis of country's economic transformation through budget of the coming fiscal year have been welcomed.     

Issuing a press release, the Nepal Association for Software and IT Services Companies (NAS-IT) welcomed such initiatives of the government, expressing belief that such move would make positive contribution to increase Nepal's IT export, earn foreign exchange, create employment as well as to establish Nepal as a global digital services destination.     

Announcement of various programmes like tax concession on income from export of information technology services, improvement on tax management related to sweat equity provided to human resources of IT field, limiting highest-personal income tax to 29 per cent from 39 per cent, making VAT refund process more systematic and automated, and incorporating programmes to promote artificial intelligence, innovation and digital economy in coming budget are significant achievements for development of IT industry, reads the statement.     

The Companies expressed commitment to remain active to establish Nepal as a leading digital and IT Services Centre in South Asia as well as to create high-paying IT-related employment in the country.     

The Companies also drew attention of the government for not incorporating some significant policies and structural arrangement related to IT sector in the budget of coming fiscal year but incorporated earlier in government's 100-point agenda and national commitment paper.(RSS)