Banking News – Nepal’s Inland Revenue Department (IRD) has completed all technical preparations for its Taxpayer Reward Program, with the first prize draw scheduled for Friday.

On Thursday, IRD officials briefed Finance Minister Dr. Swarnim Wagle on the prize selection process and the digital system that will be used to conduct the reward program. During the meeting, the department’s technical team demonstrated the prize selection mechanism.

According to IRD Director General Dr. Bhishma Kumar Bhusal, Friday’s draw will cover consumers who purchased goods and services online or made cash purchases and uploaded their VAT bills through the IRD’s official website between Shrawan 1 and Shrawan 15.

Under the scheme, 15 consumers—one from each day of the 15-day period—will receive a cash prize of Rs. 100,000 each, after applicable tax deductions, based on eligible transactions made during the respective days.

In addition, the department will announce a grand prize of Rs. 1 million, which will be awarded to one lucky consumer selected from all eligible purchases made between Shrawan 1 and Shrawan 15. Unlike the daily prizes, the Rs. 1 million bumper prize will be subject to applicable taxes.

The Taxpayer Reward Program was announced by Finance Minister Dr. Swarnim Wagle in the Fiscal Year 2083/84 Budget to encourage tax compliance and promote the use of formal billing systems.

According to the program’s operational guidelines, prize draws will now be held twice every month. Draws conducted on the 16th of each month will cover transactions made from the 1st to the 15th, while another draw on the last day of the month will include purchases made from the 16th through the remaining days of the month.

Consumers who pay for goods and services using bank or digital wallet QR payment systems will be automatically enrolled in the reward program. However, they must retain their purchase invoice or VAT bill to claim any prize.

Consumers making cash purchases must request a PAN/VAT invoice from the seller and upload it to the IRD’s official website to obtain a participation coupon and become eligible for the reward program.

The initiative aims to encourage consumers to demand official VAT bills, improve tax compliance, and strengthen transparency in Nepal’s taxation system while promoting digital and formal payment practices.