Leading digital wallet Khalti has announced a 10% VAT refund scheme on WorldLink internet payment. The generous offer will benefit 650,000 customers of the ISP when they pay for their internet via Nepal’s popular mobile wallet plaform.
The VAT refund scheme follows the finance bill 2076 by the then Finance Minister Mr. Yuvraj Khatiwada, Khalti, and WorldLink’s initiation with the Inland Revenue Department (IRD). Remember that WorldLink has also acquired a 40% share in Khalti. This has probably helped both companies devise the VAT Refund scheme for the ISP’s customers.
WorldLink and Khalti together are working together to promote Nepal’s digital economy and meet the common mission of Digital Nepal. The VAT Refund scheme will likewise, reinforce the Digital Nepal Framework, and digital economy.
10% VAT Refund for WorldLink subscribers
In addition to a 10% VAT refund, there are other benefits while paying via Khalti. The mobile wallet has been providing 1.5% cashback to the WorldLink customers when they renew their internet subscriptions. Besides, they can also get Rs.100 off by using Promo Code GOCASHLESS on WorldLink’s bill payment.
Khalti expects that its additional 10% VAT refund scheme uplifts and directly benefit the ISP’s 6.5 lakh subscribers. But users need to remember that Khalti is offering only 10% out of the 13% VAT charged on the taxable amount to consumer ID for household connections.
The benefits, however, won’t include enterprise and corporate subscribers of WorldLink.
Binay Khadka, the CEO of Khalti shared, “This service will definitely accelerate our vision to bring financial inclusion to all Nepalese. Along with this, we’ll be working on many more innovations collaborating with the government and other bodies to bring more unique services and facilities.”
Likewise, Mr. Sanjay Kumar Sah, group CFO of WorldLink also shared similar excitement. He said, “Khalti, as a payment partner of Worldlink, has been offering various cashback offers to Worldlink users. I believe, in addition to existing offers, the VAT refund offer will massively contribute to the common goal of Digital Nepal and encourage Worldlink users to pay online through Khalti.”
Khalti is Nepal’s second-largest payment service provider with 2.0+ million users. The company occupies about 15% of Nepal’s total mobile wallet market. It also has a strong base of 30K+ agent networks across the country.
As an electronic payment facilitator, Khalti allows users to top up their phones, and pay for TV, and internet bills. Besides, users can also book domestic bus and flight tickets, pay for government services and submit insurance premiums from the app.