Workshop on Taxation- Freelancers and IT Professionals by CA Bishal Panthi, FCA & Advocate Dechen Gurung

On Saturday, 21 st June, Embark College conducted a very informative and powerful Workshop on Taxation in Freelance and IT Professional Career by inviting two competent taxation professionals, Chartered Accountant Bishal Panthi, FCA and Advocate Dechen Gurung. The event was intended to focus on the timely need to educate the younger generation of professionals and students who are either entering the freelance and technological fields.
As the number of freelancer and IT-based self-entrepreneurs has increased sharply in Nepal, in particular, among the youth, it has become essential to know about the taxation system of the country. It was with such understanding that the workshop was based to offer an all round view of the tax requirements, legal provisions and compliance measures in regards to the IT professionals and freelancers.
The college representative opened the session with a closing address indicating the role of financial literacy and legal awareness in making a good and responsible person and successful professional. This was succeeded by the introduction of the guest speakers who came with a lot of experience and practical experience in taxation and knowledge on legal compliance.
A charge of CA Bishal Panthi, a Fellow Chartered Accountant also a renowned finance trainer, began the workshop with an informative presentation of the taxation system in Nepal and mostly on the income that is acquired in freelancing, digital work, and foreign remittances. He discussed how the freelance workers and IT professionals will be expected to enroll their services, pay their due and pay income tax as is demanded by the law already.
Other more practical issues also discussed by CA Panthi include registration under PAN, TDS (Tax Deducted at Source), whether to charge VAT, and matters relating to the receipt of international payments via services such as Payoneer and Wise, in addition to bank transfers. His application of real-life scenarios and simplified nature of explanation assisted both students and professionals to get a clear impression of how tax compliance occurs in the digital era.

After the program by CA Panthi, the second session was by Advocate Dechen Gurung as an experienced legal professional in the field of corporate and IT law, discuss the legal aspect which is involved in the freelancing and digital entrepreneurship. She enlightened other imperative issues like the status of freelancer before the law, intellectual development rights, contract laws and data protection legislation in Nepal.
Advocate Gurung reminded that it is imperative to turn the freelance work into formal one by signing documents and making legal agreements. She also talked about the impediments of failing to comply with the rules of the law and taxes and the advantages of having a good financial discipline and transparency in the businesses you run on your own.
One of the most exciting activities that happened at the workshop was the question-answer episode during which students and beginning freelancers asked questions about their personal experiences related to tax registration, problems with digital payments, loopholes in the law, and cross-border service delivery. Clarity of the answers given by both speakers was used to give viable solutions and points of future help.
The day was concluded with a vote of thanks by the academic coordinator who appreciates the speakers with their wonderful suggestions and the importance of such types of workshops in this changing job market. Participation certificates were also issued and the attendants left the event with a better idea of their financial and legal obligations.
All in all, the workshop was a great success keeping up with the theme of having the Embark College prepare their students not only to succeed academically but also to be able to face the real world as well. The college has affirmed its mission to graduate industry-ready students who are aware, responsible as well as empower them by enabling future professionals with the necessary knowledge on taxation and legal compliance.
Embark College is hoping to do more of such knowledge-based events in future, enhancing the bridge between academia and industry to the advantage of its students and the general professional community.