Kathmandu, July 31: Nepal Rastra Bank (NRB) has directed licensed payment service providers to complete preparations for the launch of the Taxpayer Reward Scheme 2083, which comes into effect on August 6.
In a public notice, the central bank instructed payment institutions to inform customers about the scheme and notify them if they need to update their mobile payment applications to participate. They have also been asked to add a dedicated FAQ section on the programme to their apps and begin sharing information from August 1.
Introduced through the current fiscal year’s budget, the scheme aims to encourage tax compliance by rewarding consumers who collect genuine VAT invoices. Anyone registered under the Value Added Tax (VAT) and Permanent Account Number (PAN) systems will qualify by obtaining an original invoice for purchases above Rs 100, whether the payment is made in cash or electronically.
The Inland Revenue Department (IRD) will run the programme. One consumer will receive a bumper prize of Rs 1 million every fortnight, while one daily winner will receive Rs 133,333. Winners’ names will be published on the IRD’s website and social media platforms, and prize money will be subject to a 25 percent withholding tax under the Income Tax Act.
Initially, prize draws will be held on the 1st and 16th of every month. Each eligible invoice will generate one reward ticket, and an invoice can be entered only once. The system will automatically verify details, including the invoice number, seller’s PAN, purchase date, total amount, payment method, and the buyer’s name and mobile number.
The scheme excludes invoices issued for business purchases, those in the name of government agencies or public institutions, and bills related to telephone, internet, electricity, transport services and airline tickets. Purchases made without a PAN will also be ineligible.
According to the Ministry of Finance, the programme is intended to strengthen the culture of collecting invoices, improve tax compliance and promote transparent recording of business transactions. Winners will be notified through their registered mobile number or email, and the IRD will transfer the prize directly to their bank accounts. Unclaimed prize money will be deposited into the Prime Minister’s Disaster Relief Fund.
People’s News Monitoring Service
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