Nepal revises income tax slabs for individuals for FY 2022/23. Here are the details

Kathmandu, May 30

Through the new budget plan announced on Sunday, the government has revised income tax slabs for individuals. The new provision will come into effect from mid-July as the new fiscal year begins then.

The revision will give relief to people with low regular incomes.

See the tables below to know details of the new tax rates.

For unmarried people

Annual income Tax rate Tax amount Annual tax amount
Up to Rs 500,000 1% Rs 5,000 Rs 5,000
Additional Rs 200,000 10% Rs 20,000 Rs 25,000
Additional Rs 300,000 20% 60,000 Rs 85,000
Additional Rs 1 million 30% Rs 300,000 Rs 385,000
Any additional amount above Rs 2 million 36%

For married people

Annual income Tax rate Tax amount Annual tax amount
Up to Rs 600,000 1% Rs 6,000 Rs 6,000
Additional Rs 200,000 10% Rs 20,000 Rs 26,000
Additional Rs 300,000 20% 60,000 Rs 86,000
Additional Rs 1 million 30% Rs 300,000 Rs 386,000
Any additional amount above Rs 2 million 36%

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