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Axiata's Ncell exit smacks of intention to evade capital gains tax - myRepublica - The New York Times Partner, Latest news of Nepal in English, Latest News Articles

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. ....

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