Axiata’s subsidiary in Nepal ordered to settle RM1.45b tax | Malay Mail

KUALA LUMPUR, April 17 — Axiata Group Bhd’s subsidiary, Ncell Private Limited has received a letter issued by Nepal’s Large Taxpayers Office on the tax to be collected from the company.

“The letter stated that the assessment order issued against the seller, in relation to the transaction, has been transferred to Ncell and further states that the balance amount of the Capital Gains Tax arising from the transaction due is Nepalese rupee 39.06 billion ” said Axiata.Axiata said the group and Ncell are reviewing the letter and considering appropriate course in relation to the letter.

“As the country’s largest taxpayer, Ncell contributed US$1.17 billion in taxes since fiscal year 2014/2015. Over the last two fiscal years, Ncell’s total accumulated capital investment reached US$164 million, with US$66 million recorded in the last fiscal year.

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