Kathmandu. Finance Minister Swarnim Wagle has said that private education has been taxed by three percent. Responding to the queries raised by lawmakers during the discussion on the budget in the House of Representatives on Thursday, he said that the income tax exemption has been 10 percent from the three percent imposed on private schools.
He said, “There is an income discount of up to Rs 10 lakh on the three percent levied in private schools. You spend Rs 10,000, Rs 15,000 a month on your children, but you’re not on Taxnet. If you are enrolled in the tax rate, there will be no income tax up to Rs 10 lakh. The discount here covers your other expenses. He said that the tax has been imposed on private education to compensate for the income tax exemption. He said that three per cent is a very small amount in a place where it costs three to four thousand outside Kathmandu.
“÷Outside Kathmandu, three per cent is a very small amount,” he said. If he comes to the income tax rate and earns up to Rs 10 lakh annually, then only 1 percent has to be paid. On top of that, if you spend Rs 25,000 or 25 percent of your children’s education in private schools, you will get tax exemption. ’
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