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Ncell pays Rs 9.96 billion in taxes to Nepal government
Ncell has paid Rs 9.96 billion capital gains tax to the government. The telecom operator informed about payment of tax by organizing a press meet in Kathmandu on Sunday. "We paid the tax as per the directive of the Large Tax Payers Office (LTPO)," Ncell said in a statement distributed at the press meet, adding: "We had been directed to calculate and make deposit 15 percent of the total gains involved while TeliaSonera Norway Nepal Holdings AS (Telia Norway) sold the shares of the off-shore company Reynolds Holdings Limited." Reynolds owns 80 percent of Ncell shares. Ncell officials said that the deposit of the advance tax was made to the government under the company's commitment to work in close partnership with the government and people of Nepal. "We reiterate that the transaction involved the sale of Reynolds shares by Telia Norway, and Ncell had not been involved in the transaction at all, neither has it made any payment or received any payment arising from the transaction," reads Ncell's statement.myrepublica
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