{"id":6914,"date":"2020-04-14T10:46:11","date_gmt":"2020-04-14T10:46:11","guid":{"rendered":"https:\/\/www.mobileworldlive.com\/?p=277009"},"modified":"2020-04-14T10:46:11","modified_gmt":"2020-04-14T10:46:11","slug":"ncell-settles-capital-gains-case-under-protest","status":"publish","type":"post","link":"https:\/\/itteacheritfreelance.hk\/wordpress\/index.php\/2020\/04\/14\/ncell-settles-capital-gains-case-under-protest\/","title":{"rendered":"Ncell settles capital gains case under protest"},"content":{"rendered":"

<\/p>\n

\tAxiata Group\u2019s Nepal operator Ncell settled a disputed capital gains tax bill with the government, but vowed to continue to pursue legal action to recover what it claimed is an unlawful levy.<\/p>\n

Ncell paid an outstanding amount of NPR22.4 billion ($183 million) along with NPR990 million in interest to the Large Taxpayers Office (LTO). The bill covered capital gains tax relating to Malaysia-based Axiata’s acquisition of an 80 per cent stake in the Nepali operator in 2016.<\/p>\n

In a stock market filling, Axiata said it disputes the tax and argued Nepal’s imposition of the fee in relation to the transaction is unlawful.<\/p>\n

It added the company and its partners will seek remedies including restitution of sums already paid, a permanent injunction against further attempts to collect capital gains tax and damages for all losses suffered.<\/p>\n

The LTO claimed Ncell owed NPR39 billion after previously paying about NRP23 billion in April 2019, but the court later reduced the original amount [1], leaving it with the NPR22.44 billion to pay.<\/p>\n

Ncell had appealed the LTO’s decision, filing a petition with the court\u00a0claiming the tax authority incorrectly calculated the amount [2].<\/p>\n

The operator later filed a request for arbitration [3] with the International Centre for the Settlement of Investment Disputes, which Axiata explained is the process by which it will continue to challenge the entire process.<\/p>\n

[1] https:\/\/www.mobileworldlive.com\/asia\/asia-news\/ncell-wins-capital-gain-tax-case
\n[2] https:\/\/www.mobileworldlive.com\/asia\/asia-news\/ncell-challenges-capital-gains-tax\/
\n[3] https:\/\/www.mobileworldlive.com\/asia\/asia-news\/axiata-seeks-arbitration-in-nepal-tax-case\/<\/p>\n\n

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Axiata Group’s Nepal operator Ncell settled a disputed capital gains tax bill with the government, …<\/p>\n

The post Ncell settles capital gains case under protest<\/a> appeared first on Mobile World Live<\/a>.<\/p>\n<\/div>","protected":false},"author":248,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"slim_seo":{"title":"Ncell settles capital gains case under protest - ITTeacherITFreelance.hk","description":"Axiata Group’s Nepal operator Ncell settled a disputed capital gains tax bill with the government, ... The post Ncell settles capital gains case under pro"},"footnotes":""},"categories":[11,8,21],"tags":[2140,2141],"_links":{"self":[{"href":"https:\/\/itteacheritfreelance.hk\/wordpress\/index.php\/wp-json\/wp\/v2\/posts\/6914"}],"collection":[{"href":"https:\/\/itteacheritfreelance.hk\/wordpress\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/itteacheritfreelance.hk\/wordpress\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/itteacheritfreelance.hk\/wordpress\/index.php\/wp-json\/wp\/v2\/users\/248"}],"replies":[{"embeddable":true,"href":"https:\/\/itteacheritfreelance.hk\/wordpress\/index.php\/wp-json\/wp\/v2\/comments?post=6914"}],"version-history":[{"count":1,"href":"https:\/\/itteacheritfreelance.hk\/wordpress\/index.php\/wp-json\/wp\/v2\/posts\/6914\/revisions"}],"predecessor-version":[{"id":6915,"href":"https:\/\/itteacheritfreelance.hk\/wordpress\/index.php\/wp-json\/wp\/v2\/posts\/6914\/revisions\/6915"}],"wp:attachment":[{"href":"https:\/\/itteacheritfreelance.hk\/wordpress\/index.php\/wp-json\/wp\/v2\/media?parent=6914"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itteacheritfreelance.hk\/wordpress\/index.php\/wp-json\/wp\/v2\/categories?post=6914"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itteacheritfreelance.hk\/wordpress\/index.php\/wp-json\/wp\/v2\/tags?post=6914"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}