Commercial Banks to Pay NPR 5.41 Billion in Income Tax for the First Quarter of the Current Fiscal Year

In the first quarter of the current fiscal year 2081–82, 20 commercial banks in Nepal are expected to pay a total of NPR 5.41 billion in income tax to the government. The banks will pay 30% of their quarterly profits as advance income tax, with final accounting to be audited at the end of the fiscal year.

Total Profit: During the review period, the banks' total profit amounted to NPR 22.86 billion.

Net Profit: After tax deductions, the net profit of the banks stands at NPR 16.19 billion.

Growth Compared to Last Year: In the first quarter of the previous fiscal year, banks paid NPR 4.65 billion in income tax. This amount has increased by 16.43% to NPR 5.41 billion this year.

Top 5 Banks in Income Tax Payments:

• Nabil Bank: NPR 779.5 million

• Global IME Bank: NPR 635.7 million

• Prime Commercial Bank: NPR 541.5 million

• NMB Bank: NPR 491.7 million

• Everest Bank: NPR 483.3 million

Other banks will also pay income tax in proportion to their profits, making a significant contribution to Nepal's revenue collection.