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Govt rolls back decision to hike 13 percent tax on internet fee

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KATHMANDU — The government has decided to roll back its decision to hike 13 per cent telecommunication service charge on internet services on Thursday.

A meeting held between the internet service providers and officer bearers of Ministry of Industry and Communications has decided to roll back the earlier decision of government to hike internet fees.

Internet service providers, in line with the government’s decision, had raised internet fees from mid-July. ISPs had been charging 13 percent tax from the customers after the government decided to charge 13 percent tax from the internet providers.

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According to the agreement, the internet service providers will now not charge additional 13 percent tax levied by the Nepal Telecom and they will pay the telecommunications service fee to the government from the amount they have been charging to the customers.

This agreement will be implemented for those customers who have been taking the service only for home service. The corporate users, however, have to pay the 13 percent tax.

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Economy

NEPSE stabilises

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KATHMANDU- The Nepal Stock Exchange (Nepse) index has stabilised to some extent as compared to the first trading day on Sunday when it suffered a sharp dip.

The NEPSE index increased 0.9 points to close at 1131.73. Likewise, the sensitive index, which measures the performance of group ‘A’ stocks has also risen 0.06 points.

Over 2 million shares of a total of 156 companies were traded at more than Rs 637 million. Of the total 11 subgroups, four made gains, and the rest seven declined.

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Development bank surged 4.7 points, while non-life insurance 92.1 points, life-insurance 13.57 points and others 0.43 points.

But, banking dipped 0.27 points, while trade 1.18 points, hotel 2.04 points, hydropower 2.17 points, finance 1.82 points, production 9.21 points and microfinance 8.31 points.

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