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Ncell pays Rs.9.97 bn tax

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KATHMANDU — Ncell, the biggest private telecom company in Nepal, paid Rs 9.97 billion to the state tax, according to the directive issued by the government to pay pertinent capital gains tax(CGT) on Ncell buyout deal.

The telecom service provider informed about the payment of the tax by organizing a press meet in Kathmandu on Sunday.

“We paid the tax as per the directive of the Large Tax Payers Office (LTPO),” Ncell said in a statement distributed at the press meet.

“We had been directed to calculate and deposit 15 percent of the total gains involved while TeliaSonera Norway Nepal Holdings AS (Telia Norway) sold the shares of the off-shore company Reynolds Holdings Limited,” the statement further added.

Ncell said it has responded positively to the LTO directive and made a deposit of 15 percent of the gains of TeliaSonera rising from the sale of shares of offshore company Reynolds Holding — the 80 percent shareholder of Ncell— to Axiata.

Earlier, the LTO had directed Ncell to deposit 15 per cent of the cover-up tax, or the tax deductible at source for capital gains. Another 10 per cent of the gains made from the transaction must be deposited by TeliaSonera.

“Ncell is one of the largest taxpayers in Nepal, and has consistently complied with the laws of the country. It has also exercised the highest standards of governance and compliance pertaining to the fulfillment of tax obligations,” Ncell said in a statement.

Ncell has been under intense pressure from various stakeholders to pay the Capital Gain Tax (CGT). Nepali Congress lawmaker Gagan Thapa registered a motion of public importance at  the Parliamentary Secretariat demanding Parliament’s instruction in this regard.

Although TeliaSonera, being a seller is subjected to pay CGT to Nepal government, the LTO has got hold of Ncell as the former has already left the country.

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1 killed, 2 injured in Dhading truck mishap

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DHADING — One person was killed while two other seriously injured when a truck fell from Hugdi Khola Bridge in Rorang-10, Benighat along the Prithvi Highway on Wednesday.

The truck (Na 5 Kha 1568) en-route to Chitwan from Kathmandu fell off the bridge to Hugdi Khola (river) on Wednesday afternoon.

The deceased has been identified as 23-year-old Sher Bahadur Magar,23, of Madhya Bindu Municipality-10, according to police. Magar died on the course of treatment at a Malekhu-based hospital, informed Area Police Office, Gajuri.

Those injured in the incident are Manoj Ale 25, of Arunkhola, Nawalparasi and Megh Bahadur Gharti of Sitakganga Municipality in Arghakhanchi district have been sent to Kathmandu for further medical treatment.

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