ISLAMABAD: A division bench of the Islamabad High Court (IHC) has ruled in favour of the Federal Board of Revenue (FBR) in assessing tax liability on a high-value intra-group transaction involving the transfer of telecom operator’s tower assets.

As a result, the telecom operator is now liable to pay taxes amounting to approximately Rs22 billion ($78 million) on its gain from the transaction.

The bench, headed by Justice Babar Sattar, has........

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