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⚡ Budget 2083 — Source: Budget Speech Point 36
"We will further the restructuring of NEPSE by introducing, on a phased basis, tools such as intraday trading, short selling, and derivatives."
Listed companies can issue Global Depository Receipts (GDR).
Capital gains tax on listed securities: made final tax.
NRNs can participate in NEPSE secondary market.

All Capital Market Reforms at a Glance

ReformDetailWho Benefits
ETFs (Exchange-Traded Funds)Index-tracking passive investment funds on NEPSEAll investors — diversification without stock-picking
Derivatives (Futures/Options)Phased introduction on NEPSE-listed stocksInstitutional + sophisticated retail investors
Intraday TradingBuy and sell same stock within one trading dayActive traders — price discovery improvement
Short SellingRegulated short-selling framework (zero-tolerance ends)Sophisticated investors — hedging
Capital Gains — Final TaxCGT on listed shares is now a FINAL tax — no further income taxAll NEPSE investors
GDR for Nepal companiesListed Nepali firms can raise capital on global exchangesLarge listed companies
NRN Secondary MarketNon-Resident Nepalis can buy NEPSE-listed shares4M+ Nepali diaspora
P2P Credit ScoringNational credit scoring + peer-to-peer lending at NRBIndividuals without bank credit history

Capital Gains Tax — Made Final

This is one of the most investor-friendly changes. Previously, share trading gains raised questions about whether they needed to be added to regular income for further taxation. Now, once you pay capital gains tax at the time of sale, your tax obligation for that transaction is completely cleared. No IRD audit risk, no additional filing requirement.

CGT Rates (Finance Act 2083/84)
Listed shares held >365 days: 7.5% (Final Tax)
Listed shares held <365 days: 10% (Final Tax)
Final = once paid, no more tax obligation on that gain

What Is a GDR?

A Global Depositary Receipt allows a Nepali company listed on NEPSE to also list on international exchanges (London, Singapore, New York) without full dual-listing compliance. Foreign investors can hold GDRs representing ownership in Nepali companies. This opens Nepali companies to international capital pools, potentially hundreds of times larger than NEPSE's current market cap.

NRN Participation in NEPSE

Over 4 million Nepalis working abroad can now directly invest in NEPSE-listed stocks through a regulated NRN investment account. This channels a portion of Nepal's annual $9+ billion remittance flow into productive domestic investment rather than consumption or savings in foreign banks.

✅ For Investors
ETFs give diversified low-cost investment option — passive investing arrives
Final CGT eliminates double-taxation anxiety — investor confidence boost
NRN investment injects fresh foreign currency into capital market
GDR gives large Nepali companies global fundraising access
⚠️ Risks
Derivatives in thin market can increase volatility significantly
Short selling requires robust borrowing and settlement infrastructure
SEBON regulatory capacity must be strengthened before derivatives launch
⚡ बजेट २०८३ — बुँदा ३६
"नेपाल स्टक एक्सचेन्जको पुनःसंरचना अझ बढाई इन्ट्राडे, सर्ट सेलिङ र डेरिभेटिभ जस्ता उपकरणको चरणबद्ध शुरुवात गर्नेछौं।"
सूचीकृत कम्पनीले GDR जारी गर्न पाउने। पूँजीगत लाभकर अन्तिम कर। NRN लाई NEPSE द्वितीयक बजार।

मुख्य सुधार

सुधारविवरणफाइदा
ETFसूचकांक-आधारित निष्क्रिय लगानी कोषसबै लगानीकर्ता
डेरिभेटिभफ्यूचर र अप्सन चरणबद्ध सुरुवातसंस्थागत लगानीकर्ता
इन्ट्राडेएकै दिन किनबेचसक्रिय व्यापारी
CGT अन्तिम कर>३६५ दिन: ७.५%, <३६५ दिन: १०% — अन्तिमसबै NEPSE लगानीकर्ता
GDRविश्व बजारमा पुँजी उठाउन पाउनेठूला सूचीकृत कम्पनी
NRN पहुँचद्वितीयक बजारमा लगानी४०+ लाख प्रवासी नेपाली
CGT दर — वित्त ऐन २०८३/८४
>३६५ दिन राखेको शेयर: ७.५% (अन्तिम कर)
<३६५ दिन राखेको शेयर: १०% (अन्तिम कर)
अन्तिम = एकपटक तिरेपछि थप कर दायित्व शून्य

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AI-Generated Content Disclaimer: Created with AI assistance (Claude by Anthropic) and verified against official Nepal Budget Speech 2083/84 (Jestha 15, 2082 BS) and Google NotebookLM extraction. For professional advice: IRD Nepal · MOF Nepal.