Environmental Compliance for Industry in Nepal

Industrial Enterprises Act, 2076, requires every Industry should commence its activity related to establishment, operation and transactions only after completion environment studies such as “Initial Environmental Examination” (IEE) and “Environmental Impact Assessment” (EIA); if applicable. 

Components of Digital Society

As the world adjusts to a new normal centred around internet connectivity and digital services, the need to accelerate progress to full-fledged, inclusive digital societies has become more important than ever. In the last year, governments across Asia Pacific have implemented measures to improve access to and drive usage of digital technologies in society; they have also initiated wide-reaching digital transformation plans within the public sector to improve service delivery. As economic activities begin to pick up again, digital technologies will be central to efforts to ensure more resilient and inclusive growth. Enhanced connectivity and digital technologies are already enabling new operating models as well as opening up access to new markets and supply chains for businesses.

Working Hours in Nepal | Labour Law

Nepalese labour law regimes require legislative working time limits. Originally, it was intended to enforce hour limits to ensure a safe and healthy working environment and sufficient rest or leisure time between shifts. 

Company Law in Nepal | FAQs | Legal Prespective

Before starting any business you need to get registered with prescribed government departments. There are various types of business structures in Nepal. Business structures are selected on the basis of business requirements, turnover, types of business, number of owners, cost, tax compliance, legal compliance's etc. 

Corporate Social Responsibility in Nepal | Legal Requirements

Corporate Social Responsibility (CSR) is a corporate strategy that looks at how the business can benefit the wider society. Organization engage in CSR activities for a number of reasons which include - improving employee morale, better the organization brand image and benefit of wider society. CSR is usually integrated into a business model for an organization to be able to live in harmony with its operating environment.

Types of business structures in Nepal

If you're thinking of starting a business, you’ll need to look at the advantages and disadvantages of each different business structure and work out which structure best suits your needs.

 The most common types of business structures in Nepal are:

      1.     Sole Proprietorship

      2.     Partnership

      3.     Company

      4.     Joint Ventures

Industrial Property in Nepal | Patent, Design and Trademark

The Patent, Design and Trademark act has authorized the Department of Industry to protect the industrial property like patent, design and trademark. 

Patents shall include new invention; principles and formulae; design shall include physical shape and appearance whereas trademark shall include the word, sign, picture or all three or combination between them to differentiate the product from the others.

Bonus Act and Bonus Rules with Amendments

       Fifth Amendment of Bonus Act, 2030 and Fourth Amendment of Bonus Rules, 2039 was made on 29th Shrawan 2074 and 25th Bhadra 2075 respectively. In order to make easy for the reader of this blog, to understand clearly about the bonus provision in Nepali, i have prepared the notes incorporating recent changes in bonus act and rules made there-under.

Industrial Enterprises Act 2076 (2020) [Amended Full Act]

1.     Introduction, Short title and Commencement

The act shall be called as “Industrial Enterprises Act, 2076”. It shall be commenced from 28th Magh 2076 (11^th February 2020). Industrial Enterprises Act, 2076 has been introduced repealing the Industrial Enterprises Act, 2073 (the "Previous Act").

No person (either natural or artificial) is permitted to operate its business without establishing industry under this Act. Company registered under the Companies Act at the Office of Company Registrar (the “OCR”) is not allowed to operate business transaction without registering its industry under the Act.

Digital Advertisement Tax in Nepal?

Nepal is a country in between of the two highest internet users all around the world.

It is transforming rapidly from traditional economy to the digital economy through the use of internet and digital technologies. The transformation from traditional economy to the digital economy has established varieties of complexities in the taxation to those entities. Huge revenue is being generated by social media platforms, search engines and online market place and is currently growing at exponential rate. Nepal being a developing country has also been facing the challenges to tax the digital economy.

Coronavirus: 10 FAQ's on NRB Relief Package for COVID-19 affected businesses

1.     What is the Moratorium Scheme?

Nepal Rastra Bank (NRB) has issued COVID-19 – Regulatory Package notification, dated Chaitra 16^th 2076. In accordance with the notification, BFI’s shall offer amoratorium of up to three months in respect of all term loans (including credit card)
on payment of installments (principal and interest) falling due between Chaitra 01, 2076 and Chaitra 31, 2076. The customer of the Banks in accordance with this scheme can defer the repayment of such loans by up to three months. However, interest shall continue to accrue on the outstanding amount of the term loans during the moratorium period.