Supreme Court Halts Tax Exemption for Foreign Investor Dolma Impact Fund

The Supreme Court has issued an interim order to stop the implementation of the Inland Revenue Department's decision to grant capital gains tax exemption to foreign investor 'Dolma Impact Fund'.A joint bench of Supreme Court Justices Mahesh Sharma Paudel and Balkrishna Dhakal issued this order on Wednesday. With the court's order, the decision to grant tax exemption to Dolma Impact Fund, which has invested in 16 companies in Nepal based on the proposal of Finance Minister Rameshwar Khanal, will not be immediately enforced.The Cabinet meeting held on Kartik 12 decided to scrap the Double Taxation Avoidance Agreement (DTAA) with Mauritius....