pan

How to register a Business PAN card in Nepal?


You might have opened a new business and don’t yet know how to register for the Permanent Account Number(PAN). In the previous post, I had talked about how you can Register a Personal PAN card for employees. And this article is for you to know about registering a Business PAN in Nepal

Inland Revenue Department

Application of PAN card for Business

A PAN card for business is for a lifetime which you can get at the Inland Revenue Department. Like, the PPAN card the application for Business PAN is also very similar.

  1. Visit the website.
  2. Enter a username password and the following given details.
  3. Now in the options select PAN, then click OK.
  4. Then a screen will appear with Submission Number.
  5. There select the Business type. If  Individual is selected business subtype will display ‘PROPRIETORSHIP’ only. If Business is selected the list will contain ‘Private Limited’, ‘Public Limited’ etc. 
  6. Select ‘No’ option for the PAN and note Down the submission number and press ‘Continue.’
  7. Now enter your business details like trade name, place of business, registration date, etc
  8. If the business is in a rented property, then you have to enter the Landlord’s details:
  • PAN (if Exist)
  • Land lord’s Name
  • Area in square feet
  • Parcel Number
  • Rent Amount 
  • Land lord’s address.
  1. Now enter the details of Business Personnel details (detail of Managing Director or CEO) by clicking the ‘’Business Personnel detail’ tab. 
  2. You also should list the Branch details(if any).
  3. You can either save data or apply by pressing the ‘Save’ button or the ‘Submit’ button respectively.
  4. Click on the Print button to get a copy of the submitted application form.
  5. Now, you have to visit the IRD office and submit the printed application to the concerned officer.

To check out the full process in details check here.

Registration of PAN

Documents Required

  1. Copy of Citizenship certificate 
  2. Estate ownership document/ rental contract 
  3. Location map of the proposed industry/trading business 

Time & Cost

Now, go to the IRD and submit the application to the concerned officer. The official at the IRD office will verify your details and provide you Business PAN card. This process usually takes around one day or just hours/minutes, depending on the rush hour. You have to bear no cost throughout the process in the IRD office.

Importance

Nepal Rastra Bank (NRB), the central bank of Nepal, has made PPAN mandatory for those seeking loans above Rs 5 million. According to the monetary policy for the FY 2019/20, banks and financial institutions should ask for PPAN before issuing loans. Before the monetary policy 2019/20, you only needed it for seeking loans above Rs.10 million.

After getting PPAN card transactions through banks, payment of bills, or any other documentation, work for business or profession will be easier. The tax payment will be transparent.

Benefits

PPAN will make financial transactions, taking loans, import/export, or any-tax related work easier. You can take loans above Rs.5 million with PPAN. After it is mandatory, the companies will now pay the taxes under the name of the employees.