KATHMANDU: The government has announced a major tax overhaul aimed at easing financial pressure on taxpayers and simplifying the domestic tax system.

Presenting the budget for fiscal year 2026/27, Finance Minister Dr. Swarnim Wagle said the individual income tax exemption limit has been doubled to Rs 1 million per year, a move expected to increase disposable income, particularly among salaried and middle-income groups.

The budget also scrapped excise duties on 360 goods in an effort to reduce production costs and stabilize consumer prices.