Final hearing on Ncell tax case postponed until 25 June

6 Jun 2019

Nepal’s Supreme Court has postponed the final hearing on the capital gains tax liability of mobile operator Ncell until 25 June, citing time constraints, reports The Himalayan Times. The court will then issue its verdict on whether the NPR39.06 billion (USD346.2 million) bill levied by the Large Taxpayer’s Office (LTO) in February 2019 is consistent with existing law.

As previously reported by TeleGeography’s CommsUpdate, Ncell was ordered to pay the capital gains tax following Malaysian telecoms group Axiata’s acquisition of an 80% stake in the mobile operator from Sweden’s Telia Company in 2016. Axiata argues the LTPO failed to comply with the country’s Income Tax Act for making a tax assessment.

Nepal, Axiata, Ncell Axiata