KUALA LUMPUR: Axiata Group Bhd today said it has not received Nepal's central bank's directive that bars the company from repatriating its dividends.
Mobile telecommunication network provider Axiata was reponding to news reports, which quoted Nepal Rastra Bank officials as saying the central bank had barred Axiata from repatriating its dividends until the issue of capital gains tax related to Axiata's unit Ncell Pvt Ltd deal is settled.
In its filing to Bursa Malaysia today, Axiata clarified it had not received any official communication or direction from Nepal's central bank or relevant Nepali authorities on the matter.
"We are confident the Government of Nepal will not discriminate and contradict the aegis of the Bilateral Investment Treaty by blocking Axiata from repatriating its dividends rightfully due to the group as foreign investor in the country," Axiata said.
On June 5, Axiata told Bursa Malaysia that Nepal's Large Taxpayers Office (LTPO) had confirmed Ncell had fulfilled its tax obligations.
Ncell is fully cleared of capital gains tax payment with the further advance deposit of about NPR13.6 billion paid to the LTPO as directed by the agency.