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KATHMANDU, Dec 4: Axiata has carried out opaque transactions while selling the 80 percent stake it owned in Ncell. The shares were sold at a low price with the aim of evading taxes without informing the regulatory authorities of Nepal. Stakeholders have said that there was an attempt to evade capital gains tax in the purchase and sale of Ncell in 2016, and even now they are trying to evade revenue by buying and selling shares in an opaque manner.
KATHMANDU, April 1: The draft bill to amend the Telecommunications Act has removed the provision that Ncell will be owned by the Government of Nepal in 2029. The provision in sub-section 1 of section 25 of the Act has been deleted in the draft bill. Section 25 of the existing Act mentions the period and renewal of the permit. In sub-section 1 of the same section, the period of the permit is said to be 25 years at most.