KATHMANDU, Dec 7: Patan High Court has issued a short term interim order to not proceed with the controversial transaction of Ncell shares.

‘Ncell cannot sell its shares without the government’s consent’

KATHMANDU, Dec 4: Axiata has carried out opaque transactions while selling the 80 percent stake it owned in Ncell. The shares were sold at a low price with the aim of evading taxes without informing the regulatory authorities of Nepal. Stakeholders have said that there was an attempt to evade capital gains tax in the purchase and sale of Ncell in 2016, and even now they are trying to evade revenue by buying and selling shares in an opaque manner.

KATHMANDU, Dec 1: Malaysian telecommunications and digital conglomerate Axiata Group on Friday announced it will sell 80 percent of its stakes in Ncell to Spectrlite UK.

Axiata decides to exit Ncell

November 29, 2023 13:31 pm

KATHMANDU, Nov 29: Axiata Group Berhad has decided to leave Ncell.

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KATHMANDU, May 22: A case filed by the Ncell and its parent company Axiata Group for arbitration regarding the capital gains tax (CGT) assessed on the telecom company by the Government of Nepal has been officially registered at the International Centre for the Settlement of Investment Disputes (ICSID).

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KATHMANDU, April 9: The Supreme Court has ordered Ncell and Axiata companies to pay capital gains tax to the government. Until Ncell does so, the Supreme Court has also halted the company’s buyout, the sale of shares and distribution of bonus.

KATHMANDU, Feb 10: Axiata Group, the owner of Ncell Private Limited, has claimed that it has no additional obligation to pay CGT to the Government of Nepal. It has claimed that the responsibility lied with the seller from which it acquired Ncell.

KATHMANDU, Feb 7: In a landmark judgment, the Supreme Court on Wednesday directed the Ncell and Axiata companies to pay capital gains tax amounting to over Rs 61 billion to the government.