May 31: Much to the relief to middle-income people, the government has widened the income tax ceiling.    
Finance Minister Janardan Sharma informed while unveiling the new budget that an individual now has to pay one percent tax for up to half million income in a year. The same tax rate is applicable to the married couple for whom the income ceiling is up to Rs 600,000.    
In light of the increasing economic activities in Nepal via electronic network from abroad, the government has made arrangement to bring such business under the purview of tax.    
The government has also decided to impost one percent tax for people residing in Nepal and work for foreign companies using electronic medium or are involved in outsourcing work using IT software and modern technology.

Meanwhile, the government has projected the economic growth rate of eight percent in the upcoming fiscal year. -- RSS