The government has decided to subject any income generated abroad and received in Nepal through uploading any audio-visual content across social media platforms to one per cent advanced tax.

As per the amended ordinance budget presented by Finance Minister Janrdhan Sharma on Friday, financial institutions responsible for payment of income generated abroad and received in Nepal will deduce one per cent TDS prior to payout on total amount.

In accordance with the new provision, the banks, financial instititions and money transfer intitutions will deduct one per cent of the total payable income received through upload of audio-visual content from abroad on social media platforms.