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Wireless

Court reduces Ncell's tax obligations to NPR 21 billion in Axiata buy-out tax dispute

Monday 25 November 2019 | 09:44 CET | News
Axiata Group has confirmed that the Supreme Court of Nepal has issued its full written judgment on the writ petition filed by Ncell, Axiata's Nepalese subsidiary, against the Large Taxpayers Office (LTPO) and the Inland Revenue Department of Nepal on 22 April this year. The petition was filed in response to the LTPO's letter dated 16 April 2019 demanding that Ncell pay NPR 39.06 billion (approximately USD 339.63 million) in allegedly outstanding capital gains tax (including interest and penalties) in connection with the sale in 2016 by TeliaSonera Norway Nepal to Axiata UK of 100 percent of

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Categories: Mobile & Wireless
Companies: Axiata / Ncell
Countries: Nepal
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