Bagmati Province Ends Physical Blue Book Renewal, Offers 50% Land Registration Fee Discount for IT Firms

 

Kathmandu. Vehicle owners in Bagmati Province will no longer have to visit transport offices to renew their blue books if they pay their vehicle tax online. The provision has been introduced through the Provincial Finance Bill, 2083, simplifying the vehicle tax renewal process.

Under the new arrangement, the provincial government has integrated its transport system with electronic payment platforms. Once a vehicle tax payment made through an approved digital channel is reflected in the Vehicle Registration System (VRS) and an official receipt is generated, physical renewal of the vehicle registration book, commonly known as the blue book, will no longer be required.

The move is expected to save vehicle owners from long queues and repeated visits to transport offices solely for tax payment and blue book renewal.

50% Registration Fee Discount for Domestic IT Industries

The provincial government has also announced incentives aimed at promoting domestically funded information technology (IT) industries.

According to the Finance Bill, companies established with domestic investment will receive a 50 percent discount on house and land registration fees when purchasing land to establish and operate an IT industry.

To qualify for this, applicants must submit a recommendation from the executive body of the concerned local government along with documents proving permission to operate the business.

However, the law also includes safeguards. If the land is used for purposes other than those specified or is later sold, the beneficiary will be required to repay the discounted registration fee along with an equivalent penalty.

Digital Payments Made Mandatory for Property Transactions

The Finance Bill also introduces stricter digital payment requirements for real estate transactions in an effort to increase transparency and promote a cashless economy.

For property transactions valued between Rs 500,000 and Rs 5 million, buyers must provide proof that payment was made through a banking.

For transactions exceeding Rs 5 million, payment must be made through electronic payment systems, good-for-payment cheques, or other electronic payment instruments approved by the central bank, with proof of payment required during the registration process.

New Annual Tax Rates for Electric Vehicles

The provincial government has also introduced separate annual tax rates for private and commercial electric vehicles based on their motor capacity.

For private electric cars, jeeps, and vans, the annual tax has been set at:

• Rs 6,500 for vehicles with motor capacity of up to 50 kW,

• Rs 15,000 for vehicles between 50 kW and 125 kW,

• Rs 20,000 for vehicles between 125 kW and 200 kW, and

• Rs 30,000 for vehicles with motor capacity exceeding 200 kW.

Private electric motorcycles and scooters will also be taxed according to motor capacity. Vehicles with motors of up to 50 watts will pay Rs 1,000, while those with capacities exceeding 1,500 watts will be charged up to Rs 3,000 annually.

The Finance Bill also provides preferential tax provisions for electric vehicles operating as public or rental transport, although the government has specified separate rates for such vehicles.

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