Ncell Pays the CGT with penalty

The Ncell has finally paid NRs 13.6 billion including penalties  Capital Gain Tax(CGT) to Nepal Government that was outstanding during the taken over of Ncell from TeliaSonera to Axiata Ncell . The Ncell is part of the Telecommunication Giant group  Axiata  which hold a prominent market share in the Asian telecommunication market. The company had an outstanding CGT of NRs 9.97 billion last May  during the take over where Ncell manage to escape the CGT and was taking a stand in view of lack of policies and regulation.

CGT clearance was pressured by lawmakers and leader but the ultimate push was  felt when NCell was not allowed to introduced 4G in its service till the time they clearly the CGT.
The Himalayan Time quotes,  “Interestingly, the tax was filed Just two days after the Commission for the Investigation of Abuse of Authority arrested the chief of Inland Revenue Department on allegations of corruption while fixing taxes when he was at the Tax Settlement Commission. The CGT was to be paid for the TeliaSonera-Axiata Ncell deal.”





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