Kathmandu, June 3: The Finance Committee under the Legislature-Parliament today issued instructions to the Finance Ministry to seek the capital gains tax (CGT) payment from the telecommunications service provider Ncell Nepal.

The Committee meeting took a decision that the company with registration, investment and profit made from transaction within Nepal should pay the capital gains tax in Nepal.

The Committee has called for collecting the tax and is seeking submission of the related detail, Committee Chairman, Prakash Jwala said.

The Committee has also instructed Industry Ministry and Information and Communications Ministry to advance the company’s commercial plans and proposals including the capital increment only after settling the entire tax related issues.

TeliaSonera has sold Ncell for Rs 143 billion to the Axiata Group. The Ncell Company is required to pay Rs 36 billion under the CGT to Nepal Government. It has so far paid around Rs 10 billion following a social boycott campaign. RSS