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Ncell has fulfilled its tax to the government today


Sunday, 12 April 2020
Ncell today deposited the given amount in the revenue account of the government maintained at the Everest Bank, informed Jhalak Ram Adhikari, chief tax administrator at the Large Taxpayers’ Office.

Ncell has fulfilled its capital gains tax (CGT) responsibility on the company’s buyout deal that took place in April 2016 by paying Rs 14.33 billion to the government today.

Ncell had paid first tranche worth Rs 4.5 billion of the outstanding tax amount on December 31 and the second tranche worth Rs 4.6 billion on March 31.

The long-standing CGT controversy of Ncell was settled following a verdict of the Supreme Court (SC), which determined Rs 22.44 billion as the outstanding CGT liability of Ncell in November last year.