Ncell ordered to clear dues within a week

Ncell and its parent company, Axiata, have been accounted for Rs62.63 billion as capital gain taxes and given a week to clear the dues by the Large Taxpayer office.

The Taxpayer office in a press statement released on Tuesday said that the Ncell has Rs39.06 billion due amount to clear as the company has already paid Rs23.57 billion in total – Rs21.54 billion as capital gains tax and Rs2.02 billion as fine.

A week ago the Supreme Court also released its full text of February verdict that says, i.e, Ncell and Axiata should pay the capital gains as the responsibility to pay the tax comes to them after TeliaSonera, the previous owner of Ncell failed to do so. Ncell was sold to Axiata, a Malaysian company in 2016 without paying the capital gain tax.

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