The Supreme Court of Nepal has issued a notice to LTPO to show cause on capital gain tax to be paid by Ncell - South Asia Time

The Supreme Court of Nepal has issued a notice to LTPO to show cause on capital gain tax to be paid by Ncell

 April 25, 2019  

Kathmandu : The Supreme Court of Nepal has issued a notice to show a cause in the name of Large Taxpayers Office asking why it determined a higher capital gain tax to be paid by telecom service provider Ncell on Thursday.

A single bench of Justice Bam Kumar Shrestha hearing a writ petition filed on Monday by Ncell against the tax determined by the office has asked the office to explain the reason for determining the tax amount.

The SC has summoned both the sides for hearing and will decide whether Ncell has to pay the amount determined by the office or not.

Earlier Ncell had filed the petition against the tax determination a day before meeting the seven-day deadline issued by the Large Taxpayers Office to pay the capital gain tax.

The Taxpayers Office on April 16 had determined that Ncell should pay Rs 39.06 billion more in capital gain tax. It had sent a notice to Ncell to pay the tax within seven days. Ncell, that has already deposited Rs 23.57 billion in two installments, has claimed that it should pay only Rs 14.365 billion more.