Axiata’s Ncell departure raises questions: Inland Revenue Department examines tax compliance

KATHMANDU: The Inland Revenue Department (IRD) has initiated a probe into Axiata’s departure from Ncell, suspecting potential tax evasion by the company. The scrutiny began following Axiata Group’s sale of an 80% stake in Ncell to Spectrlite UK for a nominal amount of US$50 million (Rs 6.5 billion). Axiata...