Fiscal Nepal
First Business News Portal in English from Nepal
KATHMANDU: Nepal Telecom (NT) has acquired permission to operate the mobile money service which is useful for making payments for the purchase of goods and services from mobile balance itself.
Dilli Adhikari, managing director of NT, informed that the Nepal Rastra Bank, on Tuesday, gave final approval to for the operation of the company jointly set up by NT and Rastriya Banijya Bank (RBB) to operate mobile money service.
As per him, the company will start mobile money service within next one month. Although infrastructure for mobile money is ready, they are yet to formulate operation strategy.
Adhikari informed that discussion is underway to keep the main balance and the balance payable differently as the mobile balance is taxed with telecommunication service fee, VAT and mobile ownership fee. “As there is more tax on mobile phone balances, we need to differentiate mobile balance and the balance used for payment,” said Adhikari.
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