Nepal's Taxpayer Reward Scheme to Start August 6

The Nepal Rastra Bank has directed licensed payment service providers to inform customers that the Taxpayer Reward Scheme will become effective on August 6. Providers must add a dedicated FAQ section to their mobile apps beginning August 1 and advise users of any required app updates.

The scheme rewards consumers who retain original invoices for purchases above Rs 100, whether paid in cash or electronically. Eligible participants, registered under the VAT and PAN systems, can win a fortnightly prize of Rs 1 million or a daily prize of Rs 133,333. Winners are announced on the Inland Revenue Department’s website and social‑media channels, and prize money is subject to a 25 % withholding tax. The programme aims to boost tax compliance, improve invoice collection, and encourage transparent commercial transaction recording.