Nepal’s government withdrew the 3% equity tax on private education and health sectors after public criticism, Prime Minister Balendra Shah said. The levy was introduced in the new fiscal year budget and came into effect on July 17. Shah said the decision followed public feedback and consultations with Finance Minister Swarnim Wagle to avoid additional financial burden.
The Nepal government on Tuesday withdrew the 3% equity tax imposed on the private education and health sectors following widespread public criticism over the measure.
In a social media post, Prime Minister Balendra Shah said the decision was taken after the proposed levy raised concerns about an additional financial burden on the public.
Following consultations with Finance Minister Swarnim Wagle, the government decided not to implement the equity tax on private education and health sectors "for now", Shah said.
The 3% levy was introduced in last month's budget for the new fiscal year and came into effect on July 17.
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