TeliaSonera urged to pay CGT in Nepal

Reminding that TeliaSonera has not paid capital gains tax (CGT) in Nepal, National Youth Council (NYC) on Tuesday submitted a memorandum to the Swedish government through Honorary Consul General of Sweden in Nepal. It its memorandum submitted to Honorary Consul General of Sweden in Nepal Ganendra Bahadur Shrestha, NYC has urged the Swedish government to make TeliaSonera - the Swedish telecommunications major - pay CGT in Nepal. A team of NYC led by Chairman Saroj Baniya handed over the memorandum. “TeliaSonera had done business in Nepal. We have appealed to the company to pay all needful taxes to the Government of Nepal, respecting the love and affection showed by Nepali to the company during its presence in Nepal,” Baniya said. NYC has also said that TeliaSonera's reluctance to pay tax in Nepal would negatively affect the image of Sweden which is known all over the world for zero corruption. “TeliaSonera has to pay CGT to the government from profits it made while selling its shares in Ncell,” the company has claimed. Responding to NYC, Consul General Shrestha said that he would forward the memorandum to the concerned agency in Sweden. He also expressed commitment to support NYC's campaign. TeliaSonera quit Nepal in May, divesting its ownership in Ncell to Malaysian firm Axiata for US$ 1.03 billion on cash and debt-free basis. Regarded as the largest corporate deal in Nepal, TeliaSonera was dragged into controversy as the company has not paid CGT of the transaction. Source: republica