Kathmandu, June 4
Malaysian telecom giant Axiata has paid Rs 13.6 billion to the government of Nepal as capital gains tax.
Axiata had bought 80 per cent stake in Ncell from the Swede teleco TeliaSonera in 2015 for $1.36 billion.
According to prevailing laws, the transaction attracted a 25 per cent capital gains tax. The burden of the taxable amount has to be equally shared between the buyer and the seller.
Following today’s payment by Axiata, the Malaysian company has paid its due share of the tax.
Meanwhile, Telia is yet to pay its share of the tax, authorities say. Telia says the transaction took place outside the territory of Nepal and it is not liable to pay taxes in Nepal.
