Sumargi asked to pay Rs 4.31b in capital gain tax for sale of Ncell shares

The Inland Revenue Department (IRD) has written to Ajay Raj Sumargi to pay Rs 4.31 billion in capital gain tax for the gain on sale of Ncell shares of Airbell Services registered in Cyprus to TeliaSonera in 2013. The amount includes capital gain tax, interest and fine.

The IRD on April 24 had written to Sumargi to pay the amount within 15 days or submit any evidence to show he need not pay the amount. The IRD has again asked for payment after Sumargi did not pay the amount despite receiving the letter.

The IRD on May 14 determined the amount in the name of Sumargi’s company Nepal Satellite after Sumargi did not show interest to pat the amount. But the company refused to receive the letter that determined the tax amount.

The IRD said the letter has been sent though the post office and electronic mail after the company did not receive the letter. The IRD issued a public notice on May 17 to inform Sumargi’s company that the letter has been sent.



© 2017 Setopati Sanchar Pvt. Ltd.