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MTN’s R12bn tax wrestle in Ghana is over

MTN’s R12bn tax wrestle in Ghana is over

MTN’s R12bn tax wrestle in Ghana is over

Picture via Gallo Photographs/Fani Mahuntsi


MTN’s just about R12-billion tax dispute in Ghana is after all over, it mentioned in a understand to shareholders on Friday.

This follows “intensive and productive” talks over the last 3 weeks between MTN, MTN Ghana and that nation’s government, it mentioned.

MTN – which is Africa’s greatest wi-fi provider and Ghana’s greatest company taxpayer – has been looking to unravel a invoice that arose when the Ghanaian Income Authority (GRA) switched to a brand new technique to trace name information data according to recommendation from a third-party guide, Bloomberg prior to now reported.

The tax company claimed for the duration between 2014 and 2018 at the grounds that MTN had under-declared earnings via just about a 3rd (30%). The invoice got here to an quantity of round 8.2 billion cedi (R11.6 billion, according to change charges on Friday) together with consequences and passion.

“Shareholders are recommended that following intensive and productive discussions held all over this 21-day duration between MTN Ghana, MTN and related government in Ghana, the GRA has on 03 February 2023 absolutely withdrawn the evaluate.

“MTN want to additional guarantee shareholders and different stakeholders of MTN Ghana’s dedication to the absolute best requirements of tax compliance and accountable company citizenship. MTN and MTN Ghana want to thank all stakeholders concerned for the make stronger and collaboration to reach at this amicable and mutually sufficient complete withdrawal of the evaluate,” MTN mentioned.

It added that it “stays assured within the economic system of Ghana in addition to its long run potentialities”, announcing it meant to care for its deliberate investments and developmental tasks within the medium time period. 

This isn’t the one regulatory wrestle MTN has confronted. It prior to now effectively challenged a $2 billion tax declare from Nigerian government. 

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Supply By means of https://www.news24.com/fin24/corporations/mtns-r12bn-tax-battle-in-ghana-is-over-20230203