Parliamentary committee seeks payment of CGT by Ncell

Kathmandu, July 29: The Finance Committee under the Legislature-Parliament has directed the Ministries of Finance; Information and Communications; and Industry to make the Ncell, privately run mobile phone company, to pay the capital gains tax (CGT).

A meeting of the Committee concluded on Friday that the company that achieved a maximum increase in gross profit and the ownership of the company was changed multiple times so it was in the position of paying CGT, but it was trying to avoid this.

Industry Minister Som Prasad Pandey, Secretary Surya Silwal, Secretary Dinesh Kumar Thapaliya (Ministry of Information and Communication), Chairman of Nepal Telecommunication Authority Digambar Jha, and Director General of Department of Industry Maheshwor Neupane were present in the meeting, according to Committee President Prakash Jwala.

The company that started its business with an authorized capital of Rs 100 million has now been running with the authorised capital of Rs 17 billion.

Avoidance to pay CGT by the Ncell has long been the issue of discussions. RSS