How MTN Nigeria Paid Over N2trn in Taxes and Levies in 20 Years

Proshare

Tuesday, August 10, 2021 / 08:10 PM / by MTN Nigeria / Header Image Credit: The Guardian

 

On January 8, 2020, the Attorney-General of the Federation and the Minister of Justice, Abubakar Malami, sent a letter to MTN in which he said that following careful review and due consultation with relevant statutory agencies, his office would be withdrawing a $2 billion tax demand against the telecoms company.

 

This was after two years of allegation from the office of the AGF that the ICT company owed taxes from 2007 to 2017.

 

Evidence, however, showed that MTN has consistently paid its taxes to the Nigerian government.

 

In the 20 years that it has been in Nigeria, the biggest telecommunications company by market share has paid over N2 trillion in taxes and levies to the federal government.

 

In January 2020, the figure stood at N1.7 trillion, as confirmed by Mazen Mroue, the company's chief operations officer recently at "MTN's Value Contribution to Nigeria's Socio-Economic Development. In a year, the figure has risen to more than N2 trillion".

 

As part of its tax remittance to the federal government, the company announced in August 2021 that it responded to the Federal Government's call for public-private partnerships in the rehabilitation of critical road infrastructure in Nigeria. This will involve the reconstruction of the Enugu-Onitsha Expressway.

 

Proshare Nigeria Pvt. Ltd.


Proshare Nigeria Pvt. Ltd. 

 

Related News on MTN Nigeria

  1. MTN Nigeria Reports N141bn PAT in Q2 2021 Results, Proposes N4.55K Interim Dividend;(SP:N165.00k)
  2. MTN Nigeria's AAA Status by GCR Rating: What Does it Mean?
  3. MTN Nigeria to Offer 14.0% of MTN Mauritius Holding to Retail Investors
  4. How MTN Nigeria is Supporting FG's Financial Inclusion Strategy
  5. MTN Nigeria Assigned Highest Possible Credit Ratings by CGR, Outlook Stable
  6. MTN Nigeria Q1 2021 Results Review: Positive Earnings Outlook Post Solid Q1 Results
  7. MTN Nigeria Communication Plc Returns to FMDQ Exchange to Quote Additional Commercial Papers
  8. MTN Nigeria Issues First Telco Bond in Nigeria
  9. MTN Nigeria Series 1 Bond Issuance of Up to N100 Billion Now Open
  10. MTN Nigeria Q4 2020 Result Review: Shares Looking Compelling Post Sell-off
  11. MTN Nigeria Communications Plc Series III and IV Commercial Paper Issuance Now Open


Proshare Nigeria Pvt. Ltd.


Related News on MTN Fine

  1. NCC agrees to make MTN fines not payable until the negotiations have been concluded
  2. MTNN Clarifies Media Reports On Status Of Taxes Relating To The 2015 Fine
  3. MTNN Makes Final Payment of N55b to NCC in Relation to 2015 SIM Registration Fine
  4. Reports Indicate That Nigeria's Central Bank and MTN Reach Tentative Agreement On $8bn Fines
  5. Banks, MTN Engage CBN Over $8.1b Fine; Factually Incorrect Premises Highlighted
  6. MTN Nigeria, Banks and CBN Action - An Update and Initial Commentary 
  7. The Day After CBN Fines - DIAMONDBNK, STANBIC and MTN Share Prices Drop
  8. Diamond bank Notifies of Regulatory Fine in Relation to MTN
  9. MTN Replies Nigeria's CBN - You Approved The Funds Repatriated
  10. Stanbic IBTC Notifies of Regulatory Fine in Relation to MTN
  11. CBN Clamps Down on Four Banks; Writes MTN to Refund $8bn

Proshare Nigeria Pvt. Ltd.
READ MORE:
Related News
SCROLL TO TOP