Jhalak Ram Adhikari at the LTO, confirming that Ncell has submitted Rs 4.5 billion today, added that the company has requested to pay the remaining amount in instalments. He stated that a decision to that regard will be taken by the Office on the basis of a payment plan that the company is expected to submit. If the plan is approved, Ncell will have to clear the dues by mid-July of 2020, Adhikari added.

Meanwhile, the International Centre for Settlement of Investment Disputes, on December 19, had issued an interim order directing the government — including the Inland Revenue Department and LTO — not to take any steps to enforce its decision to collect the outstanding capital gains tax, including interest and penalties, from the sale of Ncell by TeliaSonera Norway to Axiata UK.

Axiata had acquired 80 per cent stake in Ncell for $1.4 billion in April 2016.

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