tag:blogger.com,1999:blog-25757149354963334462024-03-12T22:21:40.645-07:00Sharing is GainingA step for creating place where the ideas and knowledge of various ideals meets.Anonymoushttp://www.blogger.com/profile/00525824642841844720noreply@blogger.comBlogger12125tag:blogger.com,1999:blog-2575714935496333446.post-91542214675512565532013-12-30T08:03:00.001-08:002013-12-30T08:03:58.837-08:00Sharing is Gaining: Highligts of Monetary Policy 2070/71<a href="http://sharingisgaining.blogspot.com/2013/07/highligts-of-monetary-policy-207071_22.html#links">Sharing is Gaining: Highligts of Monetary Policy 2070/71</a>Anonymoushttp://www.blogger.com/profile/00525824642841844720noreply@blogger.com0tag:blogger.com,1999:blog-2575714935496333446.post-40749621415599514522013-07-22T22:46:00.001-07:002013-07-22T22:46:11.233-07:00Highligts of Monetary Policy 2070/71<div style="border-bottom: solid #4F81BD 1.0pt; border: none; mso-border-bottom-themecolor: accent1; mso-element: para-border-div; padding: 0in 0in 4.0pt 0in;">
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<span style="font-size: 24.0pt; mso-bidi-font-size: 26.0pt; mso-fareast-font-family: "Times New Roman";">Highlights of the Monetary Policy
2070/71<o:p></o:p></span></div>
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<b><span style="font-family: Arial, sans-serif; font-size: 9pt;">Strengthening Financial
Sector<o:p></o:p></span></b></div>
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<span style="background-position: initial initial; background-repeat: initial initial; font-family: Arial, sans-serif; font-size: 9pt;">Increasing
financial access</span><span class="apple-converted-space"><b><span style="font-family: Arial, sans-serif; font-size: 9pt;"><o:p></o:p></span></b></span></div>
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<span class="apple-converted-space"><span style="background-position: initial initial; background-repeat: initial initial; font-family: Arial, sans-serif; font-size: 9pt;">Directing credit to Productive Sector<o:p></o:p></span></span></div>
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<br /></div>
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<!--[if !supportLists]--><span style="font-family: Arial, sans-serif; font-size: 9pt;">1.<span style="font-family: 'Times New Roman'; font-size: 7pt;">
</span></span><!--[endif]--><span style="font-family: Arial, sans-serif; font-size: 9pt;">Flexible Monetary Policy
to attain the economic growth of 5.5%<o:p></o:p></span></div>
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<!--[if !supportLists]--><span style="font-family: Arial, sans-serif; font-size: 9pt;">2.<span style="font-family: 'Times New Roman'; font-size: 7pt;">
</span></span><!--[endif]--><span style="font-family: Arial, sans-serif; font-size: 9pt;">Inflation target 8%<o:p></o:p></span></div>
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<!--[if !supportLists]--><span style="font-family: Arial, sans-serif; font-size: 9pt;">3.<span style="font-family: 'Times New Roman'; font-size: 7pt;">
</span></span><!--[endif]--><span style="font-family: Arial, sans-serif; font-size: 9pt;">Broad Money Growth 16%<o:p></o:p></span></div>
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<!--[if !supportLists]--><span style="font-family: Arial, sans-serif; font-size: 9pt;">4.<span style="font-family: 'Times New Roman'; font-size: 7pt;">
</span></span><!--[endif]--><span style="font-family: Arial, sans-serif; font-size: 9pt;">Domestic Credit is
projected to increase by 17.1%<o:p></o:p></span></div>
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<br /></div>
<h3>
Monetary Policy
Instruments:<o:p></o:p></h3>
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<!--[if !supportLists]--><i><span style="font-family: Arial, sans-serif; font-size: 9pt;">1.<span style="font-family: 'Times New Roman'; font-size: 7pt; font-style: normal;">
</span></span></i><!--[endif]--><i><span style="font-family: Arial, sans-serif; font-size: 9pt;">Bank Rate 8% : No change<o:p></o:p></span></i></div>
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<!--[if !supportLists]--><span style="font-family: Arial, sans-serif; font-size: 9pt;">2.<span style="font-family: 'Times New Roman'; font-size: 7pt;">
</span></span><!--[endif]--><span style="font-family: Arial, sans-serif; font-size: 9pt;">Cash reserve ratio
reduced by 1%, A: 5%, B – 4.5% and C: 4%<o:p></o:p></span></div>
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<!--[if !supportLists]--><span style="font-family: Arial, sans-serif; font-size: 9pt;">3.<span style="font-family: 'Times New Roman'; font-size: 7pt;">
</span></span><!--[endif]--><span style="font-family: Arial, sans-serif; font-size: 9pt;">Statutory liquidity
ratio reduced. A: 12% , B: 9%, C: 8% (Earlier 15%, 11%, 10% respectively)<o:p></o:p></span></div>
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<!--[if !supportLists]--><span style="font-family: Arial, sans-serif; font-size: 9pt;">4.<span style="font-family: 'Times New Roman'; font-size: 7pt;">
</span></span><!--[endif]--><span style="font-family: Arial, sans-serif; font-size: 9pt;">Repo Maximum Tenure 21
days from 28 days earlier.<o:p></o:p></span></div>
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<!--[if !supportLists]--><span style="font-family: Arial, sans-serif; font-size: 9pt;">5.<span style="font-family: 'Times New Roman'; font-size: 7pt;">
</span></span><!--[endif]--><span style="font-family: Arial, sans-serif; font-size: 9pt;">Online Bidding System
for TB and DB<o:p></o:p></span></div>
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<!--[if !supportLists]--><span style="font-family: Arial, sans-serif; font-size: 9pt;">6.<span style="font-family: 'Times New Roman'; font-size: 7pt;">
</span></span><!--[endif]--><span style="font-family: Arial, sans-serif; font-size: 9pt;">Loan term Bond to be
issued.<o:p></o:p></span></div>
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<!--[if !supportLists]--><span style="font-family: Arial, sans-serif; font-size: 9pt;">7.<span style="font-family: 'Times New Roman'; font-size: 7pt;">
</span></span><!--[endif]--><span style="font-family: Arial, sans-serif; font-size: 9pt;">Base Rate implementation
to other FIs.<o:p></o:p></span></div>
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<!--[if !supportLists]--><span style="font-family: Arial, sans-serif; font-size: 9pt;">8.<span style="font-family: 'Times New Roman'; font-size: 7pt;">
</span></span><!--[endif]--><span style="font-family: Arial, sans-serif; font-size: 9pt;">Interest rate on
refinancing to agriculture, hydropower reduced to 5pc (Earlier 6pc)<o:p></o:p></span></div>
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<!--[if !supportLists]--><span style="font-family: Arial, sans-serif; font-size: 9pt;">9.<span style="font-family: 'Times New Roman'; font-size: 7pt;">
</span></span><!--[endif]--><span style="font-family: Arial, sans-serif; font-size: 9pt;">Interest rate on refinancing
to sick industries and exports reduced to 1pc (Earlier 1.5pc)<o:p></o:p></span></div>
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<!--[if !supportLists]--><span style="font-family: Arial, sans-serif; font-size: 9pt;">10.<span style="font-family: 'Times New Roman'; font-size: 7pt;">
</span></span><!--[endif]--><span style="font-family: Arial, sans-serif; font-size: 9pt;">DSL: A: 4.5%, B: 4%, C:
3.5% (increased by 0.5%)<o:p></o:p></span></div>
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<!--[if !supportLists]--><span style="font-family: Arial, sans-serif; font-size: 9pt;">11.<span style="font-family: 'Times New Roman'; font-size: 7pt;">
</span></span><!--[endif]--><span style="font-family: Arial, sans-serif; font-size: 9pt;">Compulsory lending to
hydropower, agriculture increased to 12pc <o:p></o:p></span></div>
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<!--[if !supportLists]--><span style="font-family: Arial, sans-serif; font-size: 9pt;">12.<span style="font-family: 'Times New Roman'; font-size: 7pt;">
</span></span><!--[endif]--><span style="font-family: Arial, sans-serif; font-size: 9pt;">Work plan of B & C
class about productive sector lending within 3 yr to be submitted within 2070
Paush.<o:p></o:p></span></div>
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<!--[if !supportLists]--><i><span style="font-family: Arial, sans-serif; font-size: 9pt;">13.<span style="font-family: 'Times New Roman'; font-size: 7pt; font-style: normal;">
</span></span></i><!--[endif]--><i><span style="font-family: Arial, sans-serif; font-size: 9pt;">New Licensing of A, B, C class still in hold.<o:p></o:p></span></i></div>
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<!--[if !supportLists]--><i><span style="font-family: Arial, sans-serif; font-size: 9pt;">14.<span style="font-family: 'Times New Roman'; font-size: 7pt; font-style: normal;">
</span></span></i><!--[endif]--><i><span style="font-family: Arial, sans-serif; font-size: 9pt;">Continuity of 0% loan for establishment of new
branch at remote area<o:p></o:p></span></i></div>
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<!--[if !supportLists]--><span style="font-family: Arial, sans-serif; font-size: 9pt;">15.<span style="font-family: 'Times New Roman'; font-size: 7pt;">
</span></span><!--[endif]--><span style="font-family: Arial, sans-serif; font-size: 9pt;">Spread rate to be
maintained at 5pc<o:p></o:p></span></div>
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<!--[if !supportLists]--><span style="font-family: Arial, sans-serif; font-size: 9pt;">16.<span style="font-family: 'Times New Roman'; font-size: 7pt;">
</span></span><!--[endif]--><span style="font-family: Arial, sans-serif; font-size: 9pt;">Guideline on acquisition
to be introduced<o:p></o:p></span></div>
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<!--[if !supportLists]--><span style="font-family: Arial, sans-serif; font-size: 9pt;">17.<span style="font-family: 'Times New Roman'; font-size: 7pt;">
</span></span><!--[endif]--><span style="font-family: Arial, sans-serif; font-size: 9pt;">BASEL III provision to
be implemented as per need <o:p></o:p></span></div>
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<!--[if !supportLists]--><span style="font-family: Arial, sans-serif; font-size: 9pt;">18.<span style="font-family: 'Times New Roman'; font-size: 7pt;">
</span></span><!--[endif]--><span style="font-family: Arial, sans-serif; font-size: 9pt;"> Deadline for paid-up capital increment
extended by one year (within 2070/71)<o:p></o:p></span></div>
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<!--[if !supportLists]--><span style="font-family: Arial, sans-serif; font-size: 9pt;">19.<span style="font-family: 'Times New Roman'; font-size: 7pt;">
</span></span><!--[endif]--><span style="font-family: Arial, sans-serif; font-size: 9pt;">Capital to be increased<o:p></o:p></span></div>
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<!--[if !supportLists]--><span style="font-family: Arial, sans-serif; font-size: 9pt;">20.<span style="font-family: 'Times New Roman'; font-size: 7pt;">
</span></span><!--[endif]--><span style="font-family: Arial, sans-serif; font-size: 9pt;">Supervision of IT
Guideline and System Audit implementation<o:p></o:p></span></div>
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<!--[if !supportLists]--><span style="font-family: Arial, sans-serif; font-size: 9pt;">21.<span style="font-family: 'Times New Roman'; font-size: 7pt;">
</span></span><!--[endif]--><span style="font-family: Arial, sans-serif; font-size: 9pt;">Establishment of
Infrastructure Development Bank<o:p></o:p></span></div>
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<!--[if !supportLists]--><span style="font-family: Arial, sans-serif; font-size: 9pt;">22.<span style="font-family: 'Times New Roman'; font-size: 7pt;">
</span></span><!--[endif]--><span style="font-family: Arial, sans-serif; font-size: 9pt;">Basel Core Principle
Self Assessment<o:p></o:p></span></div>
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<!--[if !supportLists]--><span style="font-family: Arial, sans-serif; font-size: 9pt;">23.<span style="font-family: 'Times New Roman'; font-size: 7pt;">
</span></span><!--[endif]--><span style="font-family: Arial, sans-serif; font-size: 9pt;">Implementation of
Problem Bank Resolution Framework<o:p></o:p></span></div>
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<!--[if !supportLists]--><span style="font-family: Arial, sans-serif; font-size: 9pt;">24.<span style="font-family: 'Times New Roman'; font-size: 7pt;">
</span></span><!--[endif]--><span style="font-family: Arial, sans-serif; font-size: 9pt;">PCA to be implemented
even for failing to maintain required liquidity<o:p></o:p></span></div>
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<!--[if !supportLists]--><span style="font-family: Arial, sans-serif; font-size: 9pt;">25.<span style="font-family: 'Times New Roman'; font-size: 7pt;">
</span></span><!--[endif]--><span style="font-family: Arial, sans-serif; font-size: 9pt;">Stress testing required
for finance companies<o:p></o:p></span></div>
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<!--[if !supportLists]--><span style="font-family: Arial, sans-serif; font-size: 9pt;">26.<span style="font-family: 'Times New Roman'; font-size: 7pt;">
</span></span><!--[endif]--><span style="font-family: Arial, sans-serif; font-size: 9pt;">Provision of dynamic
provisioning<o:p></o:p></span></div>
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<!--[if !supportLists]--><span style="font-family: Arial, sans-serif; font-size: 9pt;">27.<span style="font-family: 'Times New Roman'; font-size: 7pt;">
</span></span><!--[endif]--><span style="font-family: Arial, sans-serif; font-size: 9pt;">BFIs to be forced to
lower institutional deposits’ share to less than 60pc<o:p></o:p></span></div>
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<!--[if !supportLists]--><span style="font-family: Arial, sans-serif; font-size: 9pt;">28.<span style="font-family: 'Times New Roman'; font-size: 7pt;">
</span></span><!--[endif]--><span style="font-family: Arial, sans-serif; font-size: 9pt;">Mobilization of deposit
collected at rural area in rural itself (limit to be introduced)<o:p></o:p></span></div>
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<!--[if !supportLists]--><span style="font-family: Arial, sans-serif; font-size: 9pt;">29.<span style="font-family: 'Times New Roman'; font-size: 7pt;">
</span></span><!--[endif]--><span style="font-family: Arial, sans-serif; font-size: 9pt;">Specialist service for
supervision of Saving and Credit Cooperative having more than Rs. 500million
transaction.<o:p></o:p></span></div>
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<!--[if !supportLists]--><span style="font-family: Arial, sans-serif; font-size: 9pt;">30.<span style="font-family: 'Times New Roman'; font-size: 7pt;">
</span></span><!--[endif]--><span style="font-family: Arial, sans-serif; font-size: 9pt;">Differentiate Banker and
Industrialist<o:p></o:p></span></div>
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<!--[if !supportLists]--><span style="font-family: Arial, sans-serif; font-size: 9pt;">31.<span style="font-family: 'Times New Roman'; font-size: 7pt;">
</span></span><!--[endif]--><span style="font-family: Arial, sans-serif; font-size: 9pt;">Assess of Development
bank to Note Chest<o:p></o:p></span></div>
<br />
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<br /></div>
Anonymoushttp://www.blogger.com/profile/00525824642841844720noreply@blogger.com0tag:blogger.com,1999:blog-2575714935496333446.post-17190346464690243802013-07-22T22:45:00.005-07:002013-07-22T22:45:51.758-07:00Highligts of Monetary Policy 2070/71<div style="border-bottom: solid #4F81BD 1.0pt; border: none; mso-border-bottom-themecolor: accent1; mso-element: para-border-div; padding: 0in 0in 4.0pt 0in;">
<div class="MsoTitle">
<span style="font-size: 24.0pt; mso-bidi-font-size: 26.0pt; mso-fareast-font-family: "Times New Roman";">Highlights of the Monetary Policy
2070/71<o:p></o:p></span></div>
</div>
<div align="center" class="MsoNormal" style="background-color: white; background-position: initial initial; background-repeat: initial initial; margin-bottom: 0.0001pt; text-align: center;">
<b><span style="font-family: Arial, sans-serif; font-size: 9pt;">Strengthening Financial
Sector<o:p></o:p></span></b></div>
<div align="center" class="MsoNormal" style="background-color: white; background-position: initial initial; background-repeat: initial initial; margin-bottom: 0.0001pt; text-align: center;">
<span style="background-position: initial initial; background-repeat: initial initial; font-family: Arial, sans-serif; font-size: 9pt;">Increasing
financial access</span><span class="apple-converted-space"><b><span style="font-family: Arial, sans-serif; font-size: 9pt;"><o:p></o:p></span></b></span></div>
<div align="center" class="MsoNormal" style="background-color: white; background-position: initial initial; background-repeat: initial initial; margin-bottom: 0.0001pt; text-align: center;">
<span class="apple-converted-space"><span style="background-position: initial initial; background-repeat: initial initial; font-family: Arial, sans-serif; font-size: 9pt;">Directing credit to Productive Sector<o:p></o:p></span></span></div>
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<br /></div>
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<!--[if !supportLists]--><span style="font-family: Arial, sans-serif; font-size: 9pt;">1.<span style="font-family: 'Times New Roman'; font-size: 7pt;">
</span></span><!--[endif]--><span style="font-family: Arial, sans-serif; font-size: 9pt;">Flexible Monetary Policy
to attain the economic growth of 5.5%<o:p></o:p></span></div>
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<!--[if !supportLists]--><span style="font-family: Arial, sans-serif; font-size: 9pt;">2.<span style="font-family: 'Times New Roman'; font-size: 7pt;">
</span></span><!--[endif]--><span style="font-family: Arial, sans-serif; font-size: 9pt;">Inflation target 8%<o:p></o:p></span></div>
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<!--[if !supportLists]--><span style="font-family: Arial, sans-serif; font-size: 9pt;">3.<span style="font-family: 'Times New Roman'; font-size: 7pt;">
</span></span><!--[endif]--><span style="font-family: Arial, sans-serif; font-size: 9pt;">Broad Money Growth 16%<o:p></o:p></span></div>
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<!--[if !supportLists]--><span style="font-family: Arial, sans-serif; font-size: 9pt;">4.<span style="font-family: 'Times New Roman'; font-size: 7pt;">
</span></span><!--[endif]--><span style="font-family: Arial, sans-serif; font-size: 9pt;">Domestic Credit is
projected to increase by 17.1%<o:p></o:p></span></div>
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<br /></div>
<h3>
Monetary Policy
Instruments:<o:p></o:p></h3>
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<!--[if !supportLists]--><i><span style="font-family: Arial, sans-serif; font-size: 9pt;">1.<span style="font-family: 'Times New Roman'; font-size: 7pt; font-style: normal;">
</span></span></i><!--[endif]--><i><span style="font-family: Arial, sans-serif; font-size: 9pt;">Bank Rate 8% : No change<o:p></o:p></span></i></div>
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<!--[if !supportLists]--><span style="font-family: Arial, sans-serif; font-size: 9pt;">2.<span style="font-family: 'Times New Roman'; font-size: 7pt;">
</span></span><!--[endif]--><span style="font-family: Arial, sans-serif; font-size: 9pt;">Cash reserve ratio
reduced by 1%, A: 5%, B – 4.5% and C: 4%<o:p></o:p></span></div>
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<!--[if !supportLists]--><span style="font-family: Arial, sans-serif; font-size: 9pt;">3.<span style="font-family: 'Times New Roman'; font-size: 7pt;">
</span></span><!--[endif]--><span style="font-family: Arial, sans-serif; font-size: 9pt;">Statutory liquidity
ratio reduced. A: 12% , B: 9%, C: 8% (Earlier 15%, 11%, 10% respectively)<o:p></o:p></span></div>
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<!--[if !supportLists]--><span style="font-family: Arial, sans-serif; font-size: 9pt;">4.<span style="font-family: 'Times New Roman'; font-size: 7pt;">
</span></span><!--[endif]--><span style="font-family: Arial, sans-serif; font-size: 9pt;">Repo Maximum Tenure 21
days from 28 days earlier.<o:p></o:p></span></div>
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<!--[if !supportLists]--><span style="font-family: Arial, sans-serif; font-size: 9pt;">5.<span style="font-family: 'Times New Roman'; font-size: 7pt;">
</span></span><!--[endif]--><span style="font-family: Arial, sans-serif; font-size: 9pt;">Online Bidding System
for TB and DB<o:p></o:p></span></div>
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<!--[if !supportLists]--><span style="font-family: Arial, sans-serif; font-size: 9pt;">6.<span style="font-family: 'Times New Roman'; font-size: 7pt;">
</span></span><!--[endif]--><span style="font-family: Arial, sans-serif; font-size: 9pt;">Loan term Bond to be
issued.<o:p></o:p></span></div>
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<!--[if !supportLists]--><span style="font-family: Arial, sans-serif; font-size: 9pt;">7.<span style="font-family: 'Times New Roman'; font-size: 7pt;">
</span></span><!--[endif]--><span style="font-family: Arial, sans-serif; font-size: 9pt;">Base Rate implementation
to other FIs.<o:p></o:p></span></div>
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<!--[if !supportLists]--><span style="font-family: Arial, sans-serif; font-size: 9pt;">8.<span style="font-family: 'Times New Roman'; font-size: 7pt;">
</span></span><!--[endif]--><span style="font-family: Arial, sans-serif; font-size: 9pt;">Interest rate on
refinancing to agriculture, hydropower reduced to 5pc (Earlier 6pc)<o:p></o:p></span></div>
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<!--[if !supportLists]--><span style="font-family: Arial, sans-serif; font-size: 9pt;">9.<span style="font-family: 'Times New Roman'; font-size: 7pt;">
</span></span><!--[endif]--><span style="font-family: Arial, sans-serif; font-size: 9pt;">Interest rate on refinancing
to sick industries and exports reduced to 1pc (Earlier 1.5pc)<o:p></o:p></span></div>
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<!--[if !supportLists]--><span style="font-family: Arial, sans-serif; font-size: 9pt;">10.<span style="font-family: 'Times New Roman'; font-size: 7pt;">
</span></span><!--[endif]--><span style="font-family: Arial, sans-serif; font-size: 9pt;">DSL: A: 4.5%, B: 4%, C:
3.5% (increased by 0.5%)<o:p></o:p></span></div>
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<!--[if !supportLists]--><span style="font-family: Arial, sans-serif; font-size: 9pt;">11.<span style="font-family: 'Times New Roman'; font-size: 7pt;">
</span></span><!--[endif]--><span style="font-family: Arial, sans-serif; font-size: 9pt;">Compulsory lending to
hydropower, agriculture increased to 12pc <o:p></o:p></span></div>
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<!--[if !supportLists]--><span style="font-family: Arial, sans-serif; font-size: 9pt;">12.<span style="font-family: 'Times New Roman'; font-size: 7pt;">
</span></span><!--[endif]--><span style="font-family: Arial, sans-serif; font-size: 9pt;">Work plan of B & C
class about productive sector lending within 3 yr to be submitted within 2070
Paush.<o:p></o:p></span></div>
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<!--[if !supportLists]--><i><span style="font-family: Arial, sans-serif; font-size: 9pt;">13.<span style="font-family: 'Times New Roman'; font-size: 7pt; font-style: normal;">
</span></span></i><!--[endif]--><i><span style="font-family: Arial, sans-serif; font-size: 9pt;">New Licensing of A, B, C class still in hold.<o:p></o:p></span></i></div>
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<!--[if !supportLists]--><i><span style="font-family: Arial, sans-serif; font-size: 9pt;">14.<span style="font-family: 'Times New Roman'; font-size: 7pt; font-style: normal;">
</span></span></i><!--[endif]--><i><span style="font-family: Arial, sans-serif; font-size: 9pt;">Continuity of 0% loan for establishment of new
branch at remote area<o:p></o:p></span></i></div>
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<!--[if !supportLists]--><span style="font-family: Arial, sans-serif; font-size: 9pt;">15.<span style="font-family: 'Times New Roman'; font-size: 7pt;">
</span></span><!--[endif]--><span style="font-family: Arial, sans-serif; font-size: 9pt;">Spread rate to be
maintained at 5pc<o:p></o:p></span></div>
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<!--[if !supportLists]--><span style="font-family: Arial, sans-serif; font-size: 9pt;">16.<span style="font-family: 'Times New Roman'; font-size: 7pt;">
</span></span><!--[endif]--><span style="font-family: Arial, sans-serif; font-size: 9pt;">Guideline on acquisition
to be introduced<o:p></o:p></span></div>
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<!--[if !supportLists]--><span style="font-family: Arial, sans-serif; font-size: 9pt;">17.<span style="font-family: 'Times New Roman'; font-size: 7pt;">
</span></span><!--[endif]--><span style="font-family: Arial, sans-serif; font-size: 9pt;">BASEL III provision to
be implemented as per need <o:p></o:p></span></div>
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<!--[if !supportLists]--><span style="font-family: Arial, sans-serif; font-size: 9pt;">18.<span style="font-family: 'Times New Roman'; font-size: 7pt;">
</span></span><!--[endif]--><span style="font-family: Arial, sans-serif; font-size: 9pt;"> Deadline for paid-up capital increment
extended by one year (within 2070/71)<o:p></o:p></span></div>
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<!--[if !supportLists]--><span style="font-family: Arial, sans-serif; font-size: 9pt;">19.<span style="font-family: 'Times New Roman'; font-size: 7pt;">
</span></span><!--[endif]--><span style="font-family: Arial, sans-serif; font-size: 9pt;">Capital to be increased<o:p></o:p></span></div>
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<!--[if !supportLists]--><span style="font-family: Arial, sans-serif; font-size: 9pt;">20.<span style="font-family: 'Times New Roman'; font-size: 7pt;">
</span></span><!--[endif]--><span style="font-family: Arial, sans-serif; font-size: 9pt;">Supervision of IT
Guideline and System Audit implementation<o:p></o:p></span></div>
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<!--[if !supportLists]--><span style="font-family: Arial, sans-serif; font-size: 9pt;">21.<span style="font-family: 'Times New Roman'; font-size: 7pt;">
</span></span><!--[endif]--><span style="font-family: Arial, sans-serif; font-size: 9pt;">Establishment of
Infrastructure Development Bank<o:p></o:p></span></div>
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<!--[if !supportLists]--><span style="font-family: Arial, sans-serif; font-size: 9pt;">22.<span style="font-family: 'Times New Roman'; font-size: 7pt;">
</span></span><!--[endif]--><span style="font-family: Arial, sans-serif; font-size: 9pt;">Basel Core Principle
Self Assessment<o:p></o:p></span></div>
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<!--[if !supportLists]--><span style="font-family: Arial, sans-serif; font-size: 9pt;">23.<span style="font-family: 'Times New Roman'; font-size: 7pt;">
</span></span><!--[endif]--><span style="font-family: Arial, sans-serif; font-size: 9pt;">Implementation of
Problem Bank Resolution Framework<o:p></o:p></span></div>
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<!--[if !supportLists]--><span style="font-family: Arial, sans-serif; font-size: 9pt;">24.<span style="font-family: 'Times New Roman'; font-size: 7pt;">
</span></span><!--[endif]--><span style="font-family: Arial, sans-serif; font-size: 9pt;">PCA to be implemented
even for failing to maintain required liquidity<o:p></o:p></span></div>
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<!--[if !supportLists]--><span style="font-family: Arial, sans-serif; font-size: 9pt;">25.<span style="font-family: 'Times New Roman'; font-size: 7pt;">
</span></span><!--[endif]--><span style="font-family: Arial, sans-serif; font-size: 9pt;">Stress testing required
for finance companies<o:p></o:p></span></div>
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<!--[if !supportLists]--><span style="font-family: Arial, sans-serif; font-size: 9pt;">26.<span style="font-family: 'Times New Roman'; font-size: 7pt;">
</span></span><!--[endif]--><span style="font-family: Arial, sans-serif; font-size: 9pt;">Provision of dynamic
provisioning<o:p></o:p></span></div>
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<!--[if !supportLists]--><span style="font-family: Arial, sans-serif; font-size: 9pt;">27.<span style="font-family: 'Times New Roman'; font-size: 7pt;">
</span></span><!--[endif]--><span style="font-family: Arial, sans-serif; font-size: 9pt;">BFIs to be forced to
lower institutional deposits’ share to less than 60pc<o:p></o:p></span></div>
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<!--[if !supportLists]--><span style="font-family: Arial, sans-serif; font-size: 9pt;">28.<span style="font-family: 'Times New Roman'; font-size: 7pt;">
</span></span><!--[endif]--><span style="font-family: Arial, sans-serif; font-size: 9pt;">Mobilization of deposit
collected at rural area in rural itself (limit to be introduced)<o:p></o:p></span></div>
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<!--[if !supportLists]--><span style="font-family: Arial, sans-serif; font-size: 9pt;">29.<span style="font-family: 'Times New Roman'; font-size: 7pt;">
</span></span><!--[endif]--><span style="font-family: Arial, sans-serif; font-size: 9pt;">Specialist service for
supervision of Saving and Credit Cooperative having more than Rs. 500million
transaction.<o:p></o:p></span></div>
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<!--[if !supportLists]--><span style="font-family: Arial, sans-serif; font-size: 9pt;">30.<span style="font-family: 'Times New Roman'; font-size: 7pt;">
</span></span><!--[endif]--><span style="font-family: Arial, sans-serif; font-size: 9pt;">Differentiate Banker and
Industrialist<o:p></o:p></span></div>
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<!--[if !supportLists]--><span style="font-family: Arial, sans-serif; font-size: 9pt;">31.<span style="font-family: 'Times New Roman'; font-size: 7pt;">
</span></span><!--[endif]--><span style="font-family: Arial, sans-serif; font-size: 9pt;">Assess of Development
bank to Note Chest<o:p></o:p></span></div>
<br />
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<br /></div>
Anonymoushttp://www.blogger.com/profile/00525824642841844720noreply@blogger.com0tag:blogger.com,1999:blog-2575714935496333446.post-40929741961457993542012-03-08T02:57:00.001-08:002012-03-08T02:58:50.571-08:00Happy Holi<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEg0uiH4bBSavt0xifim0BGohm-RNMXiOrSqdOX82Lov5Np1h3xprPmLD9B4zWkI8wWhqBHoJs9EJoYlpdakGhz_UtU8DI314ursxToIRbiam93eBcwwSzsxlHWxTxY0e16qmUWF22xX1w/s1600/DSC02468c.jpg"><img style="float:left; margin:0 10px 10px 0;cursor:pointer; cursor:hand;width: 320px; height: 240px;" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEg0uiH4bBSavt0xifim0BGohm-RNMXiOrSqdOX82Lov5Np1h3xprPmLD9B4zWkI8wWhqBHoJs9EJoYlpdakGhz_UtU8DI314ursxToIRbiam93eBcwwSzsxlHWxTxY0e16qmUWF22xX1w/s320/DSC02468c.jpg" border="0" alt=""id="BLOGGER_PHOTO_ID_5717478972238405826" /></a>Anonymoushttp://www.blogger.com/profile/00525824642841844720noreply@blogger.com21tag:blogger.com,1999:blog-2575714935496333446.post-58104960925058527622009-07-17T06:23:00.000-07:002009-07-17T06:23:20.058-07:00Sharing is Gaining: Change by Finance Act 2066<a href="http://sharingisgaining.blogspot.com/2009/07/change-by-finance-act-2066.html#links">Sharing is Gaining: Change by Finance Act 2066</a>Anonymoushttp://www.blogger.com/profile/00525824642841844720noreply@blogger.com1tag:blogger.com,1999:blog-2575714935496333446.post-70288675652235183552009-07-17T06:20:00.000-07:002009-07-17T06:21:21.405-07:00Change by Finance Act 2066<span style="font-weight:bold;">Major Changes by Finance Act 2066<br />In Income Tax Act 2058</span><br /><br />1. Increment in Income Tax Ceiling<br /><br />Income Tax Ceiling increased to Rs. 160,000 for individual and Rs 200,000 for couple. However, 1% tax will be charged up to this limit. For detail tax rates, refer Annexure 1<br /><br />2. Capital gain tax decreased to 10%<br /><br />Capital gain tax is has been reduced from 15 percent to 10 percent in case of natural person. The rate is 15% for other than natural person. – Sec 89Ka.<br /><br />3. Capital Gain tax on disposal of Land and Building – New Sec 89kha added<br /><br />Tax should be deducted at the Land Revenue Office on capital gain on disposal of Land or Land and Building on following basis:<br />a. If the ownership of disposed Land or Land and Building is more than years, 5 percent.<br />b. If the ownership of disposed Land or Land and Building is less than 5 years, 10 percent. <br /> <br />4. Casual Gain to be included in Taxable Income - Sec 5(gha) added<br /><br />Casual gain should also be included in computation of taxable income of the along with income from business, income from employment and income from investment.<br /><br />Tax should be deducted at 25% on payment of casual gain. As per Section 92, tax deducted will be final withholding tax.<br /><br />But National and International Level Prizes derived against the contribution provided in the field of Literature, Art, Culture, Sports, Journalism, Science, Technology or Public Administration may be exempt from casual gain tax by notifying in the Nepal Gazzette.<br /><br />5. Tax Rate Concession increased for Special Industry and Information Technology Industry - Sec 11(3)(ka): amended<br /><br />a. Arrangement has been made to levy only 90 percent income tax on special industries and information technology industry which directly employ 300 or more Nepalese (up to last year it was 500 or more) all the year round. Similarly, industries which directly employ 1200 or more Nepalese nationals all the year round or which provide direct employment to more than 100 Nepalese nationals including 33 percent women, dalits (the downtrodden) or the handicapped will have to pay only 80 percent tax on their income of that particular year.<br />b. In case any special industry is operated in a very-undeveloped, undeveloped or underdeveloped area, tax shall be imposed at the rates of 50, 70 and 75 percent (earlier it was 70, 75 and 80 percent) respectively of the rates otherwise applicable, for ten years including the year in which the industry started its operation.<br /><br />6. Tax Exemption for Hydro Power for first 7 years and 50% tax exemption for next 3 years - Sec 11(3gha) added:<br /><br />A corporate institution having licensed of generation, transmission and distribution of electricity shall get full tax exemption for first 7 year from the date of commercial electricity generation, generation and transmission, generation, transmission and distribution if it is done within Chaitra end 2075. And it will get 50 percent tax rebate for next 3 years.<br /><br />But the provision applicable at the time of getting license will be applicable to the licensed persons who have started commercial electricity generation before application of above provision.<br /><br />7. Concession for the development of infrastructure of National Importance Projects - Sec 11kha added<br /><br />Arrangement has been made not to look into Income source for the investment until Chaitra end 2075 in manufacturing industries using more than 50 percent indigenous raw materials, employing more than 300 national workers or those of national importance such as hydro electricity projects, international airports, tunnel ways, road ways or railways.<br /><br />8. Tax on gain on transaction of Commodity Future : Sec 88(ka)(6) added<br /><br />Tax shall be levied in at 10 percent on the profit and gain on transaction under Commodity Future Market.<br /><br />9. No need to pay advance tax if estimated advance tax is less than Rs. 5, 000 - Sec 94(2) amended<br /><br />Where the amount of total installments calculated is less than Rs 5,000, the amount of the installment shall not be required to pay. (Earlier it was less than Rs. 2,000)<br /><br />10. Amendment in Definition of Non Business Chargeable Asset<br /><br />Non-Business Taxable Assets mean lands, buildings and interest in any entity, or securities, other than the following assets:<br />1. Business assets, depreciable assets or trading stocks.<br />2. Private house of a natural person in the following conditions:<br />(a) Under continued ownership for ten or more years (up to last year it was 3 or more years), and<br />(b) Lived in for ten or more years (up to last year it was 3 or more years) continuously or at different times by the person.<br />2a. An interest of a beneficiary in a retirement fund,<br />3. Land and private house of a natural person which has been disposed of at a price of less than five million rupees (up to last year it was 10 million rupees), or<br /> 4. Assets disposed of through transfer by any means, other than sale and purchase within three generations<br /><br />11. Increment of limit of Income and turnover of fixed tax payer : Amendment in Section 4(4)(kha)<br /><br />The resident individual has to pay income tax at a fixed amount for an income year under following circumstances:<br /><br />a. The person earned income during the income year only from a business having its source in Nepal;<br />a1. The person does not claim medical tax credit as per Sec.51 and withhold tax as per Sec.93;<br />b. If the income and turnover of the business does not exceed the threshold of Rs. 200,000 (up to last year it was Rs. 150,000) and Rs. 20,00,000 (up to last year it was Rs. 15,00,000) respectively, and<br />c. The person has opted for the application of this provision in that income year.<br /> <br />The fixed amount as per Schedule 1 (Sec 1(7)) <br />a. Rs. 5,000: In case the business is being conducted at metropolitan or sub metropolitan cities.<br />b. Rs. 2,500: In case the business is being conducted at municipality area.<br />c. Rs. 1,500: In case the business is being conducted at any other area.Anonymoushttp://www.blogger.com/profile/00525824642841844720noreply@blogger.com0tag:blogger.com,1999:blog-2575714935496333446.post-23307344497017480522009-07-13T12:14:00.000-07:002009-07-13T12:37:28.836-07:00Budget 2066-67<meta equiv="Content-Type" content="text/html; charset=utf-8"><meta name="ProgId" content="Word.Document"><meta name="Generator" content="Microsoft Word 12"><meta name="Originator" content="Microsoft Word 12"><link rel="File-List" href="file:///C:%5CDOCUME%7E1%5CAdmin%5CLOCALS%7E1%5CTemp%5Cmsohtmlclip1%5C01%5Cclip_filelist.xml"><link rel="themeData" href="file:///C:%5CDOCUME%7E1%5CAdmin%5CLOCALS%7E1%5CTemp%5Cmsohtmlclip1%5C01%5Cclip_themedata.thmx"><link rel="colorSchemeMapping" href="file:///C:%5CDOCUME%7E1%5CAdmin%5CLOCALS%7E1%5CTemp%5Cmsohtmlclip1%5C01%5Cclip_colorschememapping.xml"><!--[if gte mso 9]><xml> <w:worddocument> <w:view>Normal</w:View> <w:zoom>0</w:Zoom> <w:trackmoves/> 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mso-style-parent:""; mso-padding-alt:0in 5.4pt 0in 5.4pt; mso-para-margin:0in; mso-para-margin-bottom:.0001pt; mso-pagination:widow-orphan; font-size:10.0pt; font-family:"Calibri","sans-serif";} </style> <![endif]--> <p class="MsoNormal" style="text-align: center;" align="center"><span style="font-size:130%;"><b style=""><span style="line-height: 115%;">Major Changes by Finance Act 2066</span></b></span><b style=""><span style=""><o:p></o:p></span></b></p> <p class="MsoListParagraphCxSpFirst" style="text-indent: -0.25in;"><!--[if !supportLists]--><span style=";font-size:100%;" ><span style="">1.<span style=";font-family:";" > </span></span></span><!--[endif]--><span style=";font-size:100%;" >Income Tax Ceiling increased to Rs. 160,000 for individual and Rs 200,000 for couple. 1% tax will be charged up to this limit. But for Proprietorship firm 1% will not be levied.<o:p></o:p></span></p> <p class="MsoListParagraphCxSpMiddle" style="text-indent: -0.25in;"><!--[if !supportLists]--><span style=";font-size:100%;" ><span style="">2.<span style=";font-family:";" > </span></span></span><!--[endif]--><span style=";font-size:100%;" >Capital Gain Tax Decreased from 15% to 10%.<o:p></o:p></span></p> <p class="MsoListParagraphCxSpMiddle" style="margin-bottom: 0.0001pt; text-indent: -0.25in; line-height: normal;"><!--[if !supportLists]--><span style="font-size:100%;"><span style="">3.<span style=";font-family:";" > </span></span></span><!--[endif]--><span style=";font-size:100%;" >Local Development Tax of 1.5% removed</span><span style="font-size:100%;"><o:p></o:p></span></p> <p class="MsoListParagraphCxSpMiddle" style="margin-bottom: 0.0001pt; text-indent: -0.25in; line-height: normal;"><!--[if !supportLists]--><span style=";font-family:";font-size:100%;" ><span style="">4.<span style=";font-family:";" > </span></span></span><!--[endif]--><span style="font-size:100%;">Windfall Gain included on taxable income of a person</span><span style=";font-family:";font-size:100%;" ><o:p></o:p></span></p> <p class="MsoListParagraphCxSpLast" style="margin-bottom: 0.0001pt; text-indent: -0.25in; line-height: normal;"><!--[if !supportLists]--><span style="font-size:100%;"><span style="">5.<span style=";font-family:";" > </span></span></span><!--[endif]--><span style="font-size:100%;">80% duty on milk tanker has been exempted.<o:p></o:p></span></p> <ol style="margin-top: 0in;" start="6" type="1"><li class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: normal;"><span style=";font-size:100%;" >The agriculture reform fee has been reduced from 8 percent to 5 percent.<o:p></o:p></span></li></ol> <p class="MsoListParagraphCxSpFirst" style="text-indent: -0.25in;"><!--[if !supportLists]--><span style=";font-size:100%;" ><span style="">7.<span style=";font-family:";" > </span></span></span><!--[endif]--><span style="font-size:100%;"><b style=""><span style="">Health institutions liable to collect and pay health service tax may opt to collect and pay value</span></b></span><span style=";font-size:100%;" > added tax instead by voluntarily registering with the Value Added Tax.<o:p></o:p></span></p> <p class="MsoListParagraphCxSpMiddle" style="text-indent: -0.25in;"><!--[if !supportLists]--><span style=";font-size:100%;" ><span style="">8.<span style=";font-family:";" > </span></span></span><!--[endif]--><span style="font-size:100%;"><b style=""><span style="">Arrangement has been made to levy only 90 percent income tax on special industries and information technology industry which directly employ 300 or more Nepalese all the year round. Similarly, industries which directly employ 1200 or more Nepalese nationals all the year round or which provide direct</span></b></span><span style=";font-size:100%;" > employment to more than 100 Nepalese nationals including 33 percent women, dalits (the downtrodden) or the handicapped will have to pay only 80 percent tax on their income of that particular year.<o:p></o:p></span></p> <p class="MsoListParagraphCxSpMiddle" style="text-indent: -0.25in;"><!--[if !supportLists]--><span style=";font-size:100%;" ><span style="">9.<span style=";font-family:";" > </span></span></span><!--[endif]--><span style=";font-size:100%;" >Arrangement has been made not to look into the income source of manufacturing industries using more than 50 percent indigenous raw materials, employing more than 300 national workers or those of national importance such as hydro electricity projects, international airports, tunnel ways, road ways or railways until mid April, 2019. <o:p></o:p></span></p> <p class="MsoListParagraphCxSpMiddle" style="text-indent: -0.25in;"><!--[if !supportLists]--><span style=";font-size:100%;" ><span style="">10.<span style=";font-family:";" > </span></span></span><!--[endif]--><span style=";font-size:100%;" >In order to give further incentive to export trade, arrangement has been made for providing lump sum refund within 30 days to the person or organization exporting more than 40 percent of their monthly sale. <o:p></o:p></span></p> <p class="MsoListParagraphCxSpMiddle" style="text-indent: -0.25in;"><!--[if !supportLists]--><span style=";font-size:100%;" ><span style="">11.<span style=";font-family:";" > </span></span></span><!--[endif]--><span style=";font-size:100%;" >In order to reduce the cost of trade and industry as well as to simplify the process, except for brick industry, stone crusher and tobacco products (panparag, chewing tobacco gutka and khaini) the need to get excise license on the production, import, export, storage, sale and distribution of all other excisable items under self-release will be annulled.<o:p></o:p></span></p> <p class="MsoListParagraphCxSpMiddle" style="text-indent: -0.25in;"><!--[if !supportLists]--><span style=";font-size:100%;" ><span style="">12.<span style=";font-family:";" > </span></span></span><!--[endif]--><span style=";font-size:100%;" >Arrangement for excise duty exemption on items produced by using more than 90% domestic scraps has been made.<o:p></o:p></span></p> <p class="MsoListParagraphCxSpLast" style="text-indent: -0.25in;"><!--[if !supportLists]--><span style=";font-size:100%;" ><span style="">13.<span style=";font-family:";" > </span></span></span><!--[endif]--><span style=""><span style="font-size:100%;">VDIS program not continued.</span></span></p><p class="MsoListParagraphCxSpLast" style="text-indent: -0.25in;">14. 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normal; font-variant: normal; font-weight: normal; font-size: 7pt; line-height: normal; font-size-adjust: none; font-stretch: normal;"> </span></span></span><!--[endif]-->Amendment in definition of Non Business Chargeable Asset: <span style=""></span> <span style=""><o:p></o:p></span></p> Anonymoushttp://www.blogger.com/profile/00525824642841844720noreply@blogger.com0tag:blogger.com,1999:blog-2575714935496333446.post-76645407932112103712009-04-02T20:21:00.000-07:002009-04-02T20:32:38.749-07:00List of IFRS<p><em><strong><span style="font-size:100%;">International Financial Reporting Standards (IFRS/IAS) List</span></strong></em></p><p><strong></strong></p><p><strong>IFRSs:</strong><br /></p>IFRS 1 First-time Adoption of International Financial Reporting Standards <br />IFRS 2 Share-based Payment <br />IFRS 3 Business Combinations <br />IFRS 4 Insurance Contracts <br />IFRS 5 Non-current Assets Held for Sale and Discontinued Operations <br />IFRS 6 Exploration for and evaluation of Mineral Resources <br />IFRS 7 Financial Instruments: Disclosures <br />IFRS 8 Operating Segments<br /><br /><strong>IASs:</strong><br />IAS 1 Presentation of Financial Statements <br />IAS 2 Inventories <br />IAS 7 Cash Flow Statements <br />IAS 8 Accounting Policies, Changes in Accounting Estimates and Errors <br />IAS 10 Events After the Balance Sheet Date <br />IAS 11 Construction Contracts <br />IAS 12 Income Taxes <br />IAS 16 Property, Plant and Equipment <br />IAS 17 Leases <br />IAS 18 Revenue <br />IAS 19 Employee Benefits <br />IAS 20 Accounting for Government Grants and Disclosure of Government Assistance <br />IAS 21 The Effects of Changes in Foreign Exchange Rates <br />IAS 23 Borrowing Costs <br />IAS 24 Related Party Disclosures <br />IAS 26 Accounting and Reporting by Retirement Benefit Plans <br />IAS 27 Consolidated and Separate Financial Statements <br />IAS 28 Investments in Associates <br />IAS 29 Financial Reporting in Hyperinflationary Economies <br />IAS 31 Interests in Joint Ventures <br />IAS 32 Financial Instruments: Presentation <br />IAS 33 Earnings per Share <br />IAS 34 Interim Financial Reporting <br />IAS 36 Impairment of Assets <br />IAS 37 Provisions, Contingent Liabilities and Contingent Assets <br />IAS 38 Intangible Assets <br />IAS 39 Financial Instruments: Recognition and Measurement <br />IAS 40 Investment Property <br />IAS 41 AgricultureAnonymoushttp://www.blogger.com/profile/00525824642841844720noreply@blogger.com2tag:blogger.com,1999:blog-2575714935496333446.post-18451992988967659032009-04-01T09:42:00.000-07:002009-04-01T09:44:32.477-07:00Internation Accounting Standard 12<div align="left"><strong>IAS 12: Income Taxes</strong><br /><br />1. Objective<br /><br />The objective of IAS 12 is to prescribe the accounting treatment for income taxes. The principal issue is how to account for the current and future tax consequences of:<br /><br />(a) the future recovery (or settlement) of the carrying amount of assets (or liabilities) that are recognised in an entity's balance sheet, and<br />(b) transactions and other events of the current period that are recognised in an entity's financial statements<br /><br />The items below reveal more about the requirements of IAS 12.<br /><br />a. Deferred tax<br /><br />The carrying amount of assets and liabilities may be recovered or settled at an amount, or under a timing, different from that considered for tax purposes.<br /><br />In such cases, IAS 12 requires an entity to recognise a deferred tax liability or a deferred tax asset (with certain limited exceptions), so as to recognise the deferred tax effects in the current financial statements as if those differences did not exist.<br /><br />The deferred tax liability (or asset) subsequently reverses as the differences between tax and accounting treatment reduce, and ultimately disappears.<br /><br />b. Where to account for the tax<br /><br />IAS 12 requires an entity to account for the tax consequences of transactions and other events in the same way that it accounts for the transactions and other events themselves, i.e:<br /> in the income statement<br /> in equity, or<br /> in calculation of goodwill<br /><br />c. IAS 12 also deals with...<br /><br />IAS 12 also addresses:<br /> the recognition of deferred tax assets arising from unused tax losses or unused tax credits<br /> the presentation of income taxes in the financial statements, and<br /> the disclosure of information relating to income taxes<br /><br />2. The scope of IAS 12<br /><br />IAS 12 should be applied in accounting for income taxes.<br /><br />Income taxes include:<br /> all domestic and foreign taxes that are based on taxable profits<br /> taxes, such as withholding taxes, payable by a subsidiary, associate or joint venture on distributions to the reporting entity<br /><br />IAS 12 does not address:<br /> methods of accounting for government grants (see IAS 20, Accounting for Government Grants and Disclosure of Government Assistance), or<br /> investment tax credits<br /><br />However, it does address accounting for temporary differences that may arise from such grants or investment tax credits.<br /><br />3. Key definitions<br /><br />a. Accounting profit <br /><br /> Accounting profit is profit or loss for a period before deducting tax expense.<br /> <br /><br />b. Taxable profit (or tax loss)<br /><br /> Taxable profit (or tax loss) is the profit (or loss) for a period, determined in accordance with the rules established by the taxation authorities, upon which it will be determined whether income taxes are payable (or recoverable). <br /><br /> This is the profit or loss, as calculated by the tax authorities, at the end of a financial period based on the income and expenses that are included or excluded for tax purposes (e.g. accounting depreciation versus tax depreciation).<br /><br />c. Tax expense (or tax income)<br /><br /> Tax expense (tax income) is the aggregate amount included in the determination of profit or loss for the period in respect of current tax and deferred tax.<br /><br /> i.e. Tax expense (or tax income) = current tax + deferred tax<br /> <br />d. Current tax<br /><br /> Current tax is the amount of income taxes payable (or recoverable) in respect of the taxable profit (or tax loss) for a period. <br /><br /> i.e. Current tax = taxable profit (or tax loss) x tax rate<br /><br /> It is the amount of tax due to or from the tax authorities for a period.<br /> <br />e. Tax base<br /><br /> The tax base of an asset or liability is the amount attributed to that asset or liability for tax purposes, i.e. the value of an asset or liability in terms of the tax laws. <br /><br /> For example: an asset has a cost of 100, depreciation to date is 20 but tax depreciation is 25.<br /><br /> Therefore:<br /> Carrying amount = 80 (accounting value)<br /> Tax base = 75 (tax value)<br /><br />f. Temporary differences<br /><br /> Temporary differences are differences between the carrying amount of an asset or liability in the balance sheet and its tax base, i.e. the difference between the accounting value (carrying amount) and the tax authority amount (tax base) due to the differences in treatment between the relevant tax legislation and the accounting policies of the entity. <br /><br /> Temporary differences may be either:<br /> (a) taxable temporary differences - temporary differences that will result in taxable amounts in determining taxable profit (or tax loss) of future periods when the carrying amount of the asset or liability is recovered or settled<br /> or<br />(b) deductible temporary differences - temporary differences that will result in amounts that are deductible in determining taxable profit (or tax loss) of future periods, when the carrying amount of the asset or liability is recovered or settled<br /><br />g. Deferred tax liabilities<br /><br />Deferred tax liabilities are the amounts of income taxes payable in future periods in respect of taxable temporary differences.<br /><br /> i.e. Deferred tax liabilities = taxable temporary differences x tax rate<br /> <br />h. Deferred tax assets<br /><br />Deferred tax assets are the amounts of income taxes recoverable in future periods in respect of:<br /><br />(a) deductible temporary differences<br />(b) the carryforward of unused tax losses, and<br />(c) the carryforward of unused tax credits<br /><br />i.e. deferred tax assets = deductible temporary differences * tax rate + unused tax losses * tax rate and tax credits<br /><br /></div>Anonymoushttp://www.blogger.com/profile/00525824642841844720noreply@blogger.com1tag:blogger.com,1999:blog-2575714935496333446.post-80155458130930782302009-04-01T09:27:00.000-07:002009-04-01T09:30:19.239-07:00Nepalese Company Act 2063 in English<p>Dear Friends,</p><p>You can download the company act 2063 of Nepal in english version.</p><p>Download</p>Anonymoushttp://www.blogger.com/profile/00525824642841844720noreply@blogger.com8tag:blogger.com,1999:blog-2575714935496333446.post-61958590783897617942008-12-09T10:20:00.000-08:002008-12-09T10:21:25.920-08:00WelcomeWelcome to the Blog.Anonymoushttp://www.blogger.com/profile/00525824642841844720noreply@blogger.com0tag:blogger.com,1999:blog-2575714935496333446.post-70878270010881113282008-12-09T09:54:00.000-08:002008-12-09T10:07:44.210-08:00Sharing Is GainingDear all friends,<br /><br /><br /><br />This blog is created to share the ideas, knowledge we have to all.<br /><br /><br /><br />Any type of querry, new happening, recent trends about accounts, audit, tax etc. can be shared through this communication portal.Anonymoushttp://www.blogger.com/profile/00525824642841844720noreply@blogger.com0