Stock brokers halt NEPSE

KATHMANDU: The domestic share market remained affected on Thursday due to protests from the stock brokers.

Stock Brokers Association of Nepal obstructed the market, citing the lack of clarity in the provision regarding the pay of value added tax (VAT) while making transactions in the security market.

Though the officials of Securities Board of Nepal (SEBON) and Association sat for talks to find a way out to the dispute, the meeting ended inconclusively thus prompting the stock brokers to halt the share trading which had left share investors disappointed.

The Association members reached the NEPSE before 11:00 am today, the opening time for the share market, halting the market.

The Association has said though it is ready to pay the tax, the government is yet to ease the atmosphere towards this end. Though the Association has not so much strong objection to the VAT provision, the condition that demands for payment of VAT for past business was not acceptable for it.

However, SEBON spokesperson Niraj Giri said they were hopeful that the debate would be settled through dialogues.