PETALING JAYA: The Supreme Court of Nepal has allowed the temporary stay order granted on April 25 to be continued for the tax issues surrounding Axiata Group Bhd’s indirect 80% owned subsidiary Ncell Private Ltd.
During this period, Nepal’s Large Taxpayer Office (LTPO) is refrained from taking any steps against Ncell in relation to the 39.06 billion rupee (RM1.44 billion) capital gains tax it slapped on Ncell.
In addition, a full bench of the Supreme Court will be convened to hear and decide on the Ncell application, according to Axiata in its stock exchange filing.
“Axiata will make further announcements upon material developments arising from the Ncell application,“ the group added.
Last month, Ncell appealed to the Supreme Court against the LTPO’s demand for the capital gains tax.
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