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Sumargi denies to pay tax

Kathmandu, 21May: Controversial businessman Ajeya Raj Sumargi has refused to pay Rs 4.31 billion in capital gains tax in relation to a seven-year-old deal in which Telia Sonera bought 75 percent shares in Sumargi’s Nepal Satellite Telecom.

After discovering that 75 percent of shares in Nepal Satellite Telecom, operating under the brand ‘Hello Nepal’, had been transferred to Telia Sonera with a capital gain of Rs 5.63 billion, the revenue department attempted to recover Rs 1.40 billion in capital gains tax from the company in April, reports Kantipur daily.

People’s News Monitoring Service


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