Kathmandu, Feb. 11 -- The tax authority has determined capital gains tax of Rs87 billion to be recovered from the two separate deals related to buyout of Ncell-a prominent telecom company-three years ago, Nepal's tax authority said on Sunday.

According to the Large Taxpayers' Office, Ncell and its parent company Axiata Holding-a Malaysian company-are liable to pay Rs75 billion, including interest for delaying the payment.

The Large Taxpayers' Office statement has come after a full-bench of Chief Justice Cholendra Shamsher Rana and Justices Mira Khadka, Bishwombher Prasad Shrestha, Anandamohan Bhattarai and Tanka Bahadur Moktan issued the verdict on Wednesday that Ncell and Axiata need to the pay capital gains tax after its previous owne...