Kathmandu, 24 June: The Supreme Court (SC) has paved the way for the government to collect capital gains tax (CGT) from controversial businessman Ajeya Raj Sumargi by refusing to continue a stay order issued earlier on a writ petition filed by Sumargi. He had sought court order against the revised amount of capital gains tax (CGT) determined by the government on the sale of 75 percent stakes of his firm, Nepal Satellite Telecom. This has paved way for the government to recover the revised CGT.
According to media reports, a joint bench of justices Sushma Lata Mathema and Manoj Kumar Sharma on Sunday refused to continue the stay order, which was earlier issued by Justice Bam Kumar Shrestha, on a writ petition filed by the Nepal Satellite Telecom, a telecom company owned by Sumargi.
People’s News Monitoring Service