Fiscal Nepal
First Business News Portal in English from Nepal
Nepal Telecommunications Authority (NTA) has decided to provide relief to the telecommunication service providers in five different sectors.For this, the authority’s Board of Directors has decided to recommend the names of different concerned authorities.
Citing the adverse effect of the lockdown and prohibitory order on the telecommunication sector, the service providers had requested NTA to provide relief. Purushottam Khanal, Chairperson at NTA, said that the relief packages were introduced to address the problems being faced by service providers.
According to him, the government has been recommended to provide exemption on customs duty on the import of telecommunication equipment.
The telecommunication providers have to pay reverse VAT of five percent on the import of international bandwidth. NTA has recommended the government for an exemption of the reverse VAT as well.
Similarly, the internet service providers have decided to request the international companies providing bandwidth services to extend the deadline for payment of the amount of internet bandwidth imported from abroad for three months.
Internet service providers and network service providers have also urged Nepal Rastra Bank and the Ministry of Finance to extend the repayment period of the loans and interests that they need to pay to various banks and financial institutions by one year.
The time limit for depositing money in the Rural Telecommunications Development Fund, where service providers deposit money annually, has been extended by nine months. Earlier, the time limit for depositing the amount of the last fiscal year 2019/20 in the fund was extended till mid-October, but it has again been extended for another nine months till the end of the current fiscal year, according to Khanal.
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