KATHMANDU: The large Taxpayers’ Office ordered Ncell to deposit Rs 39.06 billion within seven days after determining Rs 62.63 billion as applicable capital gains tax on the Ncell buyout deal, as the telecom firm has already deposited Rs 23.57 billion as CGT and late fee, a report in The Himalayan Times daily said.
The LTO’s direction has come after the Supreme Court last week released the full text of its verdict of February 6 ordering the government to recover applicable CGT on the corporate deal of Ncell from Ncell and its Malaysian-based parent company Axiata within three months.
Axiata Group Berhad, through its wholly-owned subsidiary, Axiata In-vestments (UK) Ltd, had bought 80 per cent stake in Ncell for $1.4 billion in December 201`5.
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