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Ncell clears all outstanding dues


12 April 2020  

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KATHMANDU: Ncell, a private telecommunications service provider, on Sunday has cleared all the amounts that it had to pay to the government for the capital gains tax.

Ncell paid Rs 14.33 billion to the Large Taxpayers Office under the Inland Revenue Depart as its last instalment.

This has ended the four-year-long controversy with a buyout deal between Teliasonera, a Swedish-Norwegian company, and Axiata (UK) that had begun in April 2016.

Following a dispute between Ncell and the government, the Supreme Court (SC) had asked the company to pay Rs 23 billion and 435.6 million in the capital gains tax.

The telecommunications company has already paid Rs 9.1 billion in the past.

An extended full bench of Supreme Court (SC) led by Chief Justice Cholendra Shumsher Rana had on February 6, 2019 ordered the government to recover the capital gain tax from Ncell and Axiata.

Publish Date : 12 April 2020 17:47 PM

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