Government of Nepal increases taxes for students to study abroad

The Nepali government has increased the taxes on the amount of money that students will send to international sources, whether universities or places of accommodation to stop the brain drain in the country. Like other countries of the world, Nepal is also experiencing severe brain drain where every other student wants to go to an international university to study further. Keeping the current scenario in mind, the government of Nepal has decided to increase tax rates on foreign transfers. This means that the amount of tax charged on the money sent by parents to their children studying abroad will also be increased. 3% tax will be charged on every transfer. earlier the tax rate used to be between 1% to 2%.