A company in Nepal must complete the annual corporate filings, accounting, audit and reporting obligations that apply to its type and size. The exact requirements differ between private companies, public companies, companies not distributing profits and regulated businesses.
Core annual obligations
Common annual obligations include:
- maintaining proper books of account and company records;
- preparing annual financial statements;
- appointing an auditor where required;
- completing the audit;
- filing annual returns and prescribed information with the Office of Company Registrar;
- updating shareholder, director and other statutory information when changes occur;
- complying with tax filings and any sector-specific regulator requirements.
A company that holds an annual general meeting must generally file the required annual return after the meeting within the period specified by the Companies Act.
Important point
Corporate filings with OCR and tax filings with the Inland Revenue Department are separate legal obligations. Completing one does not automatically satisfy the other.