In a major decision regulating tax payments, the Supreme Court has directed the leading telecom service providers to pay their pending taxes very soon.<\/p>\n
The apex court has ordered Nepal\u2019s telecom provider and Malaysia-based Axiata to pay their pending capital tax gains to the government within the next three months period.<\/p>\n
The company\u2019s buyout, sale of shares and distribution of bonus will be halted till the payments are made, SC added.<\/p>\n
In this regard, a special bench led by Chief Justice Cholendra SJB Rana and other Justices issued a mandamus order in the name of defendants, Ncell and Axiata, urging them to pay the huge tax they had skipped three years ago.<\/p>\n
The issue dates back to the time when Axiata bought Reynolds Holdings, a majority shareholder in Ncell, from Sweden-based TeliaSonera for NPR 1.03 billion.<\/p>\n
Reynolds Holdings is the subsidiary of TeliaSonera and is registered in tax haven of Saint Kitts and Nevis.<\/p>\n
Civil society members argue that tax evasion has happened during the transfer of management from TeliaSonera to Axiata.<\/p>\n