Section 12: No Tax to be Levied

Notwithstanding anything contained in the prevailing law, the following shall be in relation to the following thing: –

(a) No tax shall be levied on the capital amount at the time of investment made by a non-resident Nepali.

(b) No tax shall be levied upon the amount at the time of reception which in sent to his/her close relatives, who is a Nepalese citizen, by a non-resident Nepali for individual use of such person in a sum not exceeding Fifteen Million Rupees in a fiscal year through any commercial bank or financial institution licensed by the Nepal Rastra Bank (central Bank of Nepal) for financial transaction.

(c) No tax shall be levied upon the amount at the time of reception which is sent to any social, religious, academic, cultural, charitable, sports or natural calamities rescue-related institution established without the goal of profit, by a non-resident Nepali through any commercial bank or financial institution licensed by the Nepal Rastra Bank (central bank of Nepal).