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Axiata affirms commitment to legal compliance

Khabarhub

December 6, 2023

2 MIN READ

Axiata affirms commitment to legal compliance

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KATHMANDU: Axiata, the Malaysian company behind Ncell, has provided a written assurance to the Nepal Telecommunication Authority, confirming its commitment to adhere to the country’s existing laws.

The company has pledged to file an application with the authority promptly, seeking permission for the sale of its shares, and has emphasized its dedication to compliance with the legal framework.

This follows concerns raised by the authority after Axiata announced the sale of 80 percent of Ncell shares to the UK’s Spectralite Limited for 50 million US dollars (6.66 billion rupees) without obtaining prior permission.

Despite Axiata’s exit, Ncell remains entangled in a tax dispute, with the Large Taxpayer Office imposing an additional tax assessment of approximately Rs 57 billion on the telecom company. The Supreme Court has deferred the hearing of the Ncell tax dispute case to February 27.

Here is a copy of letter send by Axiata to the Nepal Telecommunication Authority:

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