The popular social media site LinkedIn has been registered in Nepal. Useful for the business community, the platform will now pay a total of 15% tax to the government which includes 13% VAT and 2% DST (Digital Service Tax).
LinkedIn registration marks another key development in foreign tech firms’ legitimacy in Nepal. Earlier, US-based multinational company Google LLC was also registered in Nepal.
Raju Pyakurel, Information Officer at Inland Revenue Department (IRD) shared that LinkedIn was registered a few weeks before. “LinkedIn is registered in Nepal by paying the electronic service tax provided by the government through the financial activities of the current fiscal year 2079/80,” he said.
But the company hasn’t made it clear if it will open an office in Nepal.
Also read: Nepal Government to Tax Social Media and Regulate Them from FY 079/80
LinkedIn registered in Nepal, government revenue, and user data benefits!
Having registered locally means the government will claim a certain level of authority over its operation. Additionally, in need, government agencies may demand user data or even ask for better protection. Revenue is another key benefit of its registration in Nepal.
Pyakurel said that LinkedIn will pay 13% VAT and 2% DST tax to the Nepal government, a total of 15%.
The economic act of FY 2079/80 has made a provision that non-residential Nepalese need to pay 2% DST for electronic services.
LinkedIn for who?
Unlike Facebook and Twitter, LinkedIn is dedicated to the business community. It is useful for people to find people from similar working fields and stay updated with professionals. You can find most entrepreneurs and professionals with their accounts.
You can also use the site to find jobs as per your interest, qualification, and passion. The platform allows to post and share content through users’ accounts as on other social sites. LinkedIn is available from its web and mobile app.
