MTN paid N1.7trn in taxes, levies, others
MTN Nigeria Communications Plc said it has paid not less than N1.7 trillion to the Federal Government in form of taxes, levies and regulatory fees since it commenced operations in the country in 2001. This is after investing about N2 trillion to the nation’s economy in the period.
The telecoms company in a statement made available to the press, also revealed this while reacting to recent reports that it was having a tax-relation issue with the Federal Inland Revenue Service (FIRS), the agency charged with the responsibility of collecting federal taxes.
According to the company, “Since incorporation in 2001, MTN has invested more than N2 trillion into the Nigerian economy and has paid more than N 1.7 trillion in taxes, levies and other regulatory fees.
“We acknowledge that there is a technical disagreement between MTN and the Federal Inland Revenue Service (FIRS) as to how the fine should be treated for tax purposes. However, while the monies have been paid to FIRS, we have taken the disagreement to the Tax Tribunal set up by FIRS Chairman and Minister of Finance, and are awaiting a decision.
“MTN remains fully compliant with Nigerian tax laws and will abide by the findings of the tribunal. The company is committed to meeting its fiscal responsibilities and contributing to the social and economic development of Nigeria.”
In a disclosure to the Nigerian Stock Exchange (NSE), MTN Nigeria, which joined the local bourse over two months ago, admitted that it has a disagreement with the tax agency, but stressed that the matter has been escalated to the tribunal set up by the FIRS.
In 2015, the service provider received a heavy fine from the Nigerian Communications Commission (NCC) for failing to disconnect unregistered subscribers on its network, receiving a fine of N330 billion for it.
Just when it was about getting off the hook, it was asked by the Central Bank of Nigeria (CBN) to return $8.1 billion into the country due to alleged illegal repatriation of some funds to its home country, South Africa.
As it was still battling with the CBN issue, the immediate past Attorney-General of the Federation (AGF), Abubakar Malami, asked the firm to pay $2 billion in taxes. The matter is still in court as the firm challenged it.
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