PAC to discuss NCell's CGT with Prime Minister

March 16, 2017

Kathmandu- The Public Account Committee (PAC) under the Legislature-Parliament is to discuss with the Prime Minister the issue of the capital gains tax that the state is to receive from the sale of Ncell.

A meeting of the committee today decided to seek the Prime Minister's views regarding the proposal related to the capital gains tax due to the state in the transfer of the ownership of the telecom service provider, Ncell, reaching the Council of Ministers.

Deputy Prime Minister and Finance Minister Krishna Bahadur Mahara, who was present in the meeting, said the Council of Ministers has not made a decision on this matter yet but the Prime Minister had discussed with him regarding the application given by Ncell.

Committee president Dor Prasad Upadhyaya said the meeting reached to a conclusion to discuss the matter with the Prime Minister seeking time with him after a majority of the lawmakers called for discussing with the PM as to how the application directly reached the Council of Ministers.

"No proposal has come to the Cabinet regarding the capital gains tax Ncell has to pay. No decision has been taken and no direct proposal has been tabled in the Cabinet either. But the application was presented in the Cabinet," Finance Minister Mahara said.

Stating that the government would not let go the tax that has to be paid to the state in connection to the transfer of ownership of the Ncell under any condition, he expressed the commitment to raise the tax in a judicious manner. He also requested the lawmakers not to doubt his intention on this matter.

The Finance Minister also shared in the meeting that he has directed the tax office and the tax official concerned to realize the tax at the earliest within a week and settle the matter.

Most of the lawmakers speaking in the meeting had expressed concern lest the capital gains tax due from Ncell would be exempted. They also called for reaching to a decision on this issue at the earliest.
Revenue Secretary Rajan Khanal informed the meeting that an experts' group has been formed on this matter and gave assurances that a decision would be made on this issue very soon. RSS

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