Tuesday, September 04, 2018 01:09 PM / By John Bowker of Bloomberg
MTN Group Ltd. said Nigeria is seeking about $2 billion in back taxes from the embattled wireless carrier after refusing to accept the results of a self-assessment by the company.
The office of Nigeria’s attorney general calculated that the South African company owes $2 billion related to the import of foreign equipment and payments to suppliers over the past 10 years, MTN said in a statement on Tuesday. The company believes it has settled all tax obligations, it said.
The news comes less than a week after MTN was told by the Nigerian central bank to return $8.1 billion it is alleged to have illegally taken out of the country. While the company also refutes that accusation, the shares have slumped by almost 20 percent.
1. MTN Says Nigeria Is Seeking to Recover $2 Billion in Back Taxes – Bloomberg Sep 04, 2018