Inland Revenue Department issues ultimatum against Telia Sonera
KATHMANDU, Jan 3: The Large Taxpayer Office under the Department of Inland Revenue has given a 15 day ultimatum to Telia Sonera Group to clear its due tax; 65.4 billion rupees. The amount incorporates interests and fees upto January 2, 2018.
Telia Company, the then holder of underlying ownership in Ncell Pvt. Ltd is yet to pay tax dues despite receiving the notice of amended assessment. The liability of capital gain tax was created after Telia Company sold its shares to Axiata Group of Berhad, Malaysia.
The Large Taxpayer Office of Lalitpur has issued a notice to Telia Sonera Group to pay all tax dues within 15 days. "The Office will be compelled to expedite tax collection and recovery actionsby applying all or any of the needful procedures prescribed in the Income Tax Act, 2058, Section 104 to 111," the notice reads.
Source: My RepublicaDownload