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By Shristi Mishra & Sagar Satyal

Considering a startup’s need to understand the accounting and taxation issues in Nepal, Biruwa Ventures in partnership with Lekhaa Accounting organized a ‘Basics of Accounting and Taxation’ workshop at its premises in Baluwatar on 16th August 2013.

15 attendees from various organizations enjoyed an interactive session with Lekhaa’s co-founders and instructors for the day, Mr. Ayush Shrestha and Mr. Saurav Shrestha. The workshop began with a quick introduction from all the attendees who rated their knowledge on the topic before starting the session. During the first half of the workshop dedicated to accounting, Ayush shed light on about how startups can record and summarize their transactions and also emphasized on the need to have proper records of one’s company. The attendees were able to relate this to their businesses as the instructors used real life cases to make the attendees aware of the implications of not maintaining their books.

Workshop

Saurav took the floor in the second half to share information on Value Added Tax (VAT), Tax Deductible at Source (TDS), Income Tax and their regulations in Nepal. The instructors also cleverly broke some myths of accounting and tax system in Nepal in the process of addressing various queries of the attendees. There was much to learn for the attendees from their fellow participants’ experiences and challenges on the topic. This workshop provided an opportunity for attendees to build their network with both the instructors and participating entrepreneurs from diverse backgrounds.

“ Excellent initiative! It would be helpful to have this session on regular interval
especially during account closing month”, said Sanam Chitrakar, founder of Aadhar Development Consultant Pvt Ltd.

The workshop was a huge success since the attendees got clearer understanding of previously unresolved issues regarding accounting and taxation for their companies.

Biruwa is looking forward to offering follow up sessions and additional workshops in the coming days for entrepreneurs with enthusiasm and positive learning attitude.