British Investors Urge PM Oli to End Double Taxation

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British Investors Urge PM Oli to End Double Taxation

June 13: Investors in London urged Prime Minister KP Oli to remove the hassles of double taxation for entrepreneurs during his three-day visit to the United Kingdom.

A 20-member delegation led by Britain Nepal Chamber of Commerce Rajan Kandel made such request to PM Oli on Tuesday during a meeting at  the Nepali Embassy in London.

The delegation included British nationals of Nepali  and Indian origin.

After the meeting, Kandel said they were not criticizing the government but trying to create a favourable condition for investment in Nepal.

British companies investing in Nepal have been forced to pay tax both in Nepal and the UK. The delegation urged PM Oli to sign the Double Tax Avoidance Agreement with the UK government as soon as possible.

The delegation also suggested the prime minister that Nepal can benefit more if it focuses on service-oriented business rather than product-based industries.

According to the delegation, the investors are interested in health, tourism and education sectors.

They also handed a report to PM Oli highlighting the problems faced by investors willing to invest in Nepal.

The report pointed out that certain sectors in Nepal lacked skilled manpower and it is quite costly and time consuming for foreign skilled workers to obtain work permit in Nepal.

PM Oli assured the delegation to address their issues.

 

 

 

 

 

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