Stories Tagged 'Ncell'
The tax authority has determined capital gains tax of Rs87 billion to be recovered from the two separate deals related to buyout of Ncell—a prominent telecom company—three years ago, Nepal’s tax authority said on Sunday.
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The Supreme Court on Wednesday issued a mandamus order directing the government to recover the due capital gains tax from Ncell and Axiata.
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When Ncell was sold for the 12th time in 2016, some of the country’s leading members of parliament, and members of the government and the judiciary were mired in Nepal’s biggest tax evasion scandal.
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The Supreme Court on Sunday cleared the way for telecom company Ncell to repatriate its dividend from Nepal.
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The Public Accounts Committee of Legislature Parliament on Thursday directed the Ministry of Finance to immediately recover the due capital gains tax from private sector telecommunications service provider Ncell.
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Bowing to pressure and criticisms from a cross section of society, elecommunications service provider Ncell on Sunday deposited an additional Rs13.6 billion as part of the tax applicable on the profit generated through sale of the telecom company.
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