SC continues hearing on NCell profit tax evasion case
February 4, 2019 06:00 AM NPT
KATHMANDU, Feb 4: The Supreme Court has been continuously conducting hearings on the alleged profit tax evasion by private telecom corporation Ncell.
A five-member bench of Chief Justice Cholendra SJB Rana and justices Meera Khadka, Bishwombhar Shrestha, Ananda Mohan Bhattarai and Tanka Bahadur Moktan has been continuously conducting the hearings on the case. Hearings on the case resumed on Thursday, last week.The private telecom company has been facing allegations of evading profit tax while repatriating a sum of income to its home country. The court has been testing whether Ncell evaded tax while repatriating a profit of Rs 70 billion to its home country.
A single bench of justice of the apex court had granted the permission to repatriate the amount. Even though NCell had already taken Rs 24.5 billion out of Nepal, a group of civil society members filed a writ petition against repatriating the amount while NCell and Reinhold Holdings had filed another writ petition seeking an apex court permission to repatriate the amount.
Ncell was sold various times from 2001 to 2011 and has been facing allegations of evading billions of rupees in taxes. In 2001, it was registered as Spice Mobile which changed its name to Mero Mobile later.