SC Bars Ncell from Issuing Dividends, Shares

  47 sec to read
SC Bars Ncell from Issuing Dividends, Shares

April 10: The Supreme Court has ordered the concerned government authorities to determine within three months the tax amount Ncell is liable to pay to the government. The apex court has also directed the government not to allow the telecommunication giant to issue dividends and shares unless it clears the capital gains tax (CGT).

A full bench of Chief Justice Cholendra SJB Rana, justices Meera Khadka, Bishwambhar Shrestha, Tanka Bahadur Moktan and Dr Ananda Mohan Bhattarai had issued the order on February 6. The full text of the order was made public on Tuesday, April 9.

The Big Taxpayer’s Office had determined that Ncell was liable to pay Rs 60.71 billion in CGT. But before the office determined the amount, Ncell had paid Rs 9.96 billion on May 8, 2016 and Rs 11.57 billion on June 3 the same year. After deducting those amounts, Ncell now has to pay Rs 39 billion excluding interest and late fee.

 

No comments yet. Be the first one to comment.