TELNY Telenor ASA (QX)

  By Dominic Chopping 
 

The Bangladeshi subsidiary of Telenor ASA will pay 10 billion Bangladeshi takas ($115.4 million) to the Bangladesh Telecommunication Regulatory Commission this month as part of an ongoing dispute.

Grameenphone Ltd. will make the payment as part of a dispute relating to a BTRC system audit of the company for the period 1997 to 2014.

The BTRC said its audit shows that Grameenphone has, among other things, underpaid various taxes such as corporate taxes, SIM tax, VAT and revenue share from its mobile operation.

Grameenphone previously paid BDT10 billion to the BTRC on Feb. 23, 2020. With this month's payment, a total of BDT20 billion will have been deposited.

Last year, the BTRC had demanded BDT125.8 billion from Grameenphone based on the audit, an amount disputed by Grameenphone.

Write to Dominic Chopping at dominic.chopping@wsj.com

(END) Dow Jones Newswires

May 18, 2020 06:32 ET (10:32 GMT)

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