By Prithvi Man Shrestha in The Kathmandu Post, June 14, 2023CPN-UML chair and former prime minister KP Sharma Oli allegedly assured Ncell and its parent company Axiata that no capital gains tax would be applicable when Axiata was preparing to buy Ncell in 2015. Axiata Investments (UK) Limited and Ncell made such claims while submitting their position at the dispute settlement tribunal formed by the International Centre for Settlement of Investment Disputes (ICSID), an international…
Posts tagged as “Axiata”
By Prithvi Man Shrestha in The Kathmandu Post, June 13, 2023The government’s attempts to recover an additional tax of around Rs57 billion from Ncell may face obstruction with an international tribunal indicating that Nepal should refrain from recovering more taxes from the 2016 Ncell buyout by Malaysian firm Axiata. On June 9, the International Centre for Settlement of Investment Disputes (ICSID), an international investment dispute resolution body established by the World Bank, issued a verdict…