BRUSSELS: The European Union is considering putting 20 nations on a blacklist of countries it deems guilty of unfairly offering tax avoidance schemes.

EU Taxation Commissioner Pierre Moscovici says ahead of Tuesday’s meeting of EU finance ministers that the nations being considered had refused to cooperate and change their way “despite ten months of dialogue.”

The issue came again to the fore earlier this year when reports dubbed Paradise Papers showed how the rich and famous stash their wealth in shell companies in small nations to avoid paying taxes at home.

High-tax countries like France have pushed for the blacklist and a Europe-wide crackdown on tax havens. Lower-tax countries like Ireland and the Netherlands argue that will hurt Europe’s competitiveness.

Source: The Himalayan Times

Corporate News

Letter of Credit to be made mandatory for trade with India, China

KATHMANDU, April 18: Nepali traders will have to start using banking channel for making or receiving payments from traders in China and India very soon.

Read more ...

Trade experts debate fourth industrial revolution

Kathmandu, April 3, As the world has been witnessing the fourth industrial revolution, which is largely related with artificial intelligence and the internet of things, this progress could bring transformative changes in the economic development of the least developed countries (LDCs) if they are able to access advanced technologies.

Read more ...

Banks have three days to submit plan to reach all unbanked units

KATHMANDU, March 22: Nepal Rastra Bank (NRB) has told commercial banks to come up within three days commitment to open branch offices in 116 local units where they have become reluctant to expand their presence so far.

Read more ...

Bank deposits growing at almost half the rate of loan expansion

Kathmandu, January 11 - Bankers seem to have largely ignored the credit crunch situation of the last fiscal, as credit expansion of banks is almost double than deposit collection in the first five months of the current fiscal.

Read more ...
Symbol % Change Last Price Turnover
SAEF 11.1111 10.0 39,544.0
PROFL 9.9338 166.0 355,870.0
KKHC 8.4615 141.0 140,908.0
JSLBB 8.2143 3,030.0 753,798.0
RBSPO 8.1523 12,245.0 29,216,261.0
Symbol % Change Last Price Turnover
UMB -100.0000 0.0 6,800.0
SBBLJ -7.2072 206.0 895,272.0
MLBBL -5.7118 1,106.0 136,020.0
SLICL -5.2767 736.0 9,592,666.0
CFCL -4.6875 122.0 605,968.0
Symbol % Change Last Price Turnover
CHCL 1.0514 865.0 42,303,702.0
NBL 3.4682 358.0 39,989,032.0
SHPC 6.9252 386.0 37,807,086.0
SANIMA 0.5420 371.0 31,457,127.0
KBL 0.7463 270.0 30,742,675.0