Nepal orders Ncell to pay up in tax case - Mobile World Live

Nepal orders Ncell to pay up in tax case

18 APR 2019

Ncell, the largest mobile operator in Nepal, was ordered to pay a capital gains tax of NPR39.06 billion ($348 million) relating to its acquisition by Axiata Group in 2016.

In a statement, Malaysia-based Axiata Group confirmed its subsidiary received the demand from the Large Taxpayers Office and must make the payment by 22 April.

Last week, Nepal’s Supreme Court processed a capital gains tax demand against the group and gave the tax authority three months to determine the amount owed.

Axiata Group said it and Ncell are currently reviewing the demand and considering an appropriate course of action.

The operator has a 40 per cent market share by subscribers in Nepal. In the filing, Axiata Group said Ncell’s total capex over the past two years reached $164 million.

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Joseph Waring

Joseph Waring joins Mobile World Live as the Asia editor for its new Asia channel. Before joining the GSMA, Joseph was group editor for Telecom Asia for more than ten years. In addition to writing features, news and blogs, he...

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