Laxmi Capital News
Inland Revenue Department issues ultimatum against Telia Sonera

The Large Taxpayer Office under the Department of InlandRevenue has given a 15 day ultimatum to TeliaSonera Group to clear its duetax; 65.4 billion rupees. The amount incorporates interests and fees uptoJanuary 2, 2018.

Telia Company, the then holder of underlying ownership inNcell Pvt. Ltd is yet to pay tax dues despite receiving the notice of amendedassessment. The liability of capital gain tax was created after Telia Companysold its shares to Axiata Group of Berhad, Malaysia. 

The Large Taxpayer Office of Lalitpur has issued a noticeto TeliaSonera Group to pay all tax dues within 15 days."The Office will be compelled to expedite tax collection and recoveryactionsby applying all or any of the needful procedures prescribed in theIncome Tax Act, 2058, Section 104 to 111," the notice reads. 

Source: MyRepublica, 3rd January 2018

Click here to download...!