Replacement bill for incentives to boost tourism sector

Kathmandu: The replacement bill on the budget ordinance has mentioned the concessional schemes to restore the tourism sector dented by the COVID-19.

Presenting the replacement bill in the meeting of the House of Representatives today, Finance Minister Janardan Sharma announced that the construction of infrastructures to be launched in the tourism sector would be provided financial concession.

Similarly, promotional programmes would be introduced in the tourism sector.

The airlines’ companies conducting tourism-related flights and international flights would be provided with a special discount in income tax. The religious museum would be set up to promote Nepal’s religion, culture and tradition.

Employments would be generated via industries and national pride projects. The use of domestic products would be promoted for raw materials.

Moreover, the Finance Minister announced to provide special incentives to the industries using more than 50 per cent raw materials produced within the country and generating employment for more than 300 persons.

The areas for the investments should be national pride projects, roadway, railway, cement industry, steel industry, agricultural and tourism industries.