Kathmandu: The Government of Nepal has significantly lowered the annual turnover threshold for businesses required to integrate their electronic billing systems with the Central Billing Monitoring System (CBMS).
According to the new provisions unveiled in the budget for the fiscal year 2083/84, any business with an annual turnover exceeding 100 million rupees (10 Crore) that utilizes e-billing must now be linked to the central monitoring platform. This marks a substantial policy shift from the previous requirement, which applied only to firms with a turnover of 200 million rupees or more. By doubling the reach of this real-time monitoring system, the administration aims to enhance financial transparency and curb revenue leakage across a larger segment of the corporate sector.
In addition to these stricter monitoring measures for larger entities, Finance Minister Dr Swarnim Waglé emphasized the government’s commitment to modernizing the broader marketplace by incentivizing digital adoption among smaller players. The new fiscal plan includes various measures to encourage small-scale entrepreneurs and traders to transition toward electronic payment methods.
By promoting a cashless ecosystem, the government hopes to integrate small businesses into the formal financial system more effectively, ultimately streamlining the national economy and making transactions more efficient for both merchants and consumers.
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