'Immediately collect tax from Ncell'

Posted on: July 13, 2017 | views: 187

  The Public Account Committee (PAC) under the Legislature-Parliament has directed the Finance Ministry to obtain capital gains tax from Ncell, a privately owned mobile network operator in Nepal, at the earliest.

Today's PAC meeting took a decision to this effect, asking the Ministry to  collect Rs 60.71 billion Ncell has to pay in CGT as determined by Large Taxpayers' Office (LTO) on June 27 and relay the information of the matter to the PAC. 

The PAC also directed the Ministry and the LTO to provide information about details of the company like how many times its ownership was transferred and its shares were handed over and the details of transactions made in that course, said PAC President Dor Prasad Upadhyay.

Meanwhile at the meeting, lawmakers cast doubt whether CGT of Rs 60.71 would be collected from the company. 

The PAC has also drawn the attention of Speaker Onsari Gharti towards this end. 

Similarly, the meeting has directed the Finance Ministry to make it clear in writing why the capital expenditure increased all of a sudden in the end of the fiscal year.