Nepal takes major step against tax evasion, joins Global Forum

Kathmandu – Nepal has taken a significant step toward strengthening international tax transparency and combating tax evasion by joining the Global Forum on Transparency and Exchange of Information for Tax Purposes as its 173rd member. With this, Nepal has become the 24th Asian country to join the network.

Global Forum Chair Gaël Perraud welcomed Nepal’s membership, stating that the decision reflects growing global cooperation and commitment to tackling tax evasion. He noted that the inclusion of countries like Nepal is expected to further strengthen the exchange of tax-related information and international collaboration.

With this membership, Nepal has committed to implementing internationally recognized standards on tax transparency. This includes providing tax-related information when required and putting in place systems for the automatic exchange of financial account data as well as information on crypto-asset transactions.

The Global Forum uses a peer review mechanism to monitor the effective implementation of these standards. This process is intended to ensure transparency and accountability among member countries.

Finance Minister Rameshor Prasad Khanal described the membership as an important milestone for improving Nepal’s tax administration, promoting good governance, and strengthening domestic resource mobilization. He said the move will play a meaningful role in making the tax system more effective through international cooperation.

As a new member, Nepal will also receive technical assistance through multi-year capacity-building programs. These initiatives are expected to help develop the skills and infrastructure needed to implement international standards and effectively use cross-border information exchange systems.

The Global Forum includes G20 countries, OECD member states, major international financial centers, and a large number of developing nations. Nepal’s participation in this network is expected to further strengthen its alignment with the global tax governance system.