Rs 7.43 billion tax evasion case filed against Bottlers Nepal

Kathmandu: A 7.43 billion tax evasion case has been filed against Bottlers Nepal, the manufacturer of Coca-Cola in Nepal.

The Department of Revenue Investigation filed the case at Patan High Court accusing Bottlers Nepal of evading Rs 3.71 billion in capital gain tax while transferring its ownership. The Department has argued that Bottlers Nepal should pay Rs 7.43 billion including Rs 3.71 billion in fine.

The Department said the tax was evaded when the Dubai-based company Coca-Cola Sabco Asia, which owns a majority stake in Nepal-based Bottlers Nepal Limited, sold the majority of its shares to the Ireland-based Coca-Cola Sabco’s European Refreshment on October 24, 2014.