Kathmandu, Nov. 13
The Ministry of Finance
(MoF) on Friday has said that the provision of new customs duty on books import
would be applied only in the books, newspapers and magazines published by
foreign publishers.
However, books published by
Nepali publishers and printed in foreign countries would be liable of the duty.
Former Finance Minister Dr.
Yuba Raj Khatiwada had imposed 10 per cent customs duty on books imported to
Nepal.
Spokesperson of the MoF
Rameshwor Dangal said that the decision would motivate the publishers to print
the books in Nepali printing companies which would protect and promote domestic
printing industry.
Issuing a statement, the MoF
said that the Cabinet meeting on Monday, November 9 had decided to completely
waive off the duty on books import.
The budget of the fiscal
year 2018/19 had imposed 15 per cent duty on books that have publisher,
distributor or sole agent in Nepal or have copyright with Nepali publisher or
distributor but printed in foreign land.
The duty would be levied on
a sum of the paper, printing cost, rent and insurance.
However, the books with
foreign publisher would be charged no duty.
Likewise, the budget of the
last fiscal year 2019/20 had a provision to apply 10 per cent customs duty to
any publisher's book imported.
Published in The Rising Nepal daily on 14 November 2020.
No comments:
Post a Comment