- The Government to tax social media and bring it to the purview of regulation
- The scrutiny over various social media will likely be implemented in the next Fiscal Year 079/80 BS.
The government is in plans to bring social media within the purview of the federal law. President Vidhya Devi Bhandari revealed the government’s policies regarding electronic media in her recent speech in the parliament. As per the plans, the government will impose tax on social media and regulate them federally which should come into effect in the next fiscal year 079/80 BS.
The president revealed the plan in her speech that laid out the government’s new policies and programs for the upcoming FY.
For this, the government will incorporate a cyber security system and also forward digital literacy programs.
Likewise, Digital Nepal Framework will be more efficiently implemented. Through this, public services will be rendered more convenient, agile, and transparent.
In other ICT policies, high-speed internet service will be given a top priority. The government has almost completed its RTDF broadband service. Under this, local bodies in rural areas of Nepal will receive 20 Mbps fiber internet connection for up to 2 years. Also read: Kabaddi 4 Clips Leaked on Social Media, Urged to Refrain
community schools, ward offices, colleges, and other public offices will receive the high-speed internet service under this package. Those offices that have dated ADSL connections will also be replaced by NTA with its own funding.
It’s finally happening!
In the policy for the next Fiscal Year, the government will further intensify high-speed internet expansion and set up more infrastructures. Regarding the regulation of social media, the government has already released some action plans previously. However, they have not come into full effect.
This has contributed to millions of dollars in outflow abroad. Nepal’s dollar reserve is already dwindling for months and the government has also taken stringent measures to avoid a worse scenario. Social media likewise have also played their part in financial liabilities to the government. In the name of advertisements through them, Nepal is losing huge amounts of cash annually. To curb this, the government is planning on regulating them more strictly from the next FY onwards. Don’t miss: YouTube Channels to Require a License, To Cost Rs.5 Lakh
Social Media are not registered in Nepal. They are freely run under the nose of the government with no accountability so far. But in global practices, social media like Facebook, and Twitter are registered in a particular country so that they could be actively regulated by the government.
Despite some policies from the government, it has not been able to practively implement regulatory measures on social media so far.
Do you want social media to be taxed and regulated? Let us know what you think in the comments below.