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4G License to Ncell Only After Payment of Capital Gain Tax

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4G License to Ncell Only After Payment of Capital Gain Tax
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January 25: The Public Account committee (PAC) under the Legislature-Parliament has directed the government to provide 4G license to Ncell only after the latter pays capital gain tax. The PAC's meeting held on January 24 directed the government not to provide license for any additional services to Ncell until the company pay capital gain tax under share ownership transfer. Earlier in December 2015, Malaysia-based telecom firm Axiata bought a majority stake in Ncell from Sweden's TeliaSonera. Axiata bought the stake the 80 per cent stake in Ncell at Rs 136.65 billion. However, the dispute of capital gain tax is yet to settle.

Most of the Member of Parliament voiced that the Ncell should not be given any approval for additional services including 4G as it has not paid capital gain tax yet. One week back, the committee directed Finance Ministry to collect the capital gain tax from Ncell within next three months. 

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