KATHMANDU: The Supreme Court on Wednesday issued a writ of mandamus ordering government authorities to collect the due applicable Capital Gains Tax from proprietary transfer of Nepal's telecommunications giant-Ncell and Axiata, its majority stakeholder. Ncell was dragged into controversy after the government did not receive applicable CGT in the Ncell deal worth Rs 143 billion between TeliaSonera and Axiata. Following immense pressure, Ncell had paid Rs 21 billion CGT to the government last year. However, the controversy deepened, as lawmakers charged Ncell with not paying the actual amount of CGT. Lawmakers have been claiming that CGT amount that Ncell has to pay is in excess of Rs 30 billion.
SC rules Axiata-Ncell must pay due Capital Gains Tax
Published: 05:30 pm Feb 06, 2019