Ncell’s tax dues at Rs 6.64bn

KATHMANDU: The Office of the Auditor General (OAG) report has instructed the government to recover tax from the Ncell deal.

As per the OAG report, the government has received only 15 per cent of the capital gains tax in Ncell deal, out of applicable 25 per cent. The acquiring firm has submitted 15 per cent of the net gain worth Rs 66.46 billion, which amounted to Rs 9.96 billion as tax deduction at source (TDS).

As per the Income Tax Act, the telecommunication service provider has tax liability of another Rs 6.64 billion, excluding interest and fees, to the tax office.