Kathmandu, Nepal: The Large Taxpayer Office (LTO) under the Inland Revenue Department (IRD) has issued a 15 days long ultimatum to the Ncell, largest private telecommunication company of the country, to clear due tax 65403160180.00 rupees.
The Telia Company, the then holder of underlying ownership in Ncell Pvt. Ltd. has not yet paid tax due despite receiving the notice of amended assessment, states the notice issued by the LTO. According to the LTO, the amount incorporates interests and fees up to January 2, 2018.
If the Ncell is not to pay all of its tax dues within 15 days, the office (LTO) will be compelled to expedite tax collection and recovery actions by applying all or any of the needful procedures prescribed in the Income Tax Act, 2058, Section 104 to 111, reads the notice.
The LTO has issued the ultimatum to pay the tax dues in the mean time when the Ncell is preparing to distribute billions of dividends to its shareholders.