Ncell files petition against USD348m tax bill

24 Apr 2019

Nepalese mobile operator Ncell has filed a petition with the Supreme Court against the Large Taxpayers Office (LTPO), which has ordered the firm to pay NPR39.06 billion (USD347.8 million). The capital gains tax bill relates to Malaysian telecoms group Axiata’s acquisition of an 80% stake in Ncell from Sweden’s Telia Company in 2016. In a statement, Axiata said the petition asserts that the LTPO has not complied with the procedure as stated in the country’s Income Tax Act for making a tax assessment, and has instead used the Supreme Court’s Order dated 9 April 2019 to substitute the amount that the LTPO had previously assessed for TeliaSonera Norway Nepal Holdings and levied it on Ncell.

Nepal, Axiata, Ncell Axiata