Connect with us

Economy

Fine/tax status: Technical disagreement exists between us, FIRS, MTN admit

Published

on

MTN Nigeria, on Friday, admitted to a technical disagreement between it and the Federal Inland Revenue Service (FIRS), on how the 2015 fine should be treated for tax purposes.

According to him, the organisation’s attention has been drawn to media reports regarding the status of taxes relating to the 2015 fine imposed on MTN.

He, however, added that while the monies had been paid to FIRS, MTN had taken the disagreement to the Tax Tribunal set up by the FIRS Chairman and Minister of Finance and were awaiting its decision.

“MTN remains fully compliant with the 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.

“Since incorporation in 2001, MTN has invested more than N2 trillion in the Nigerian economy and has paid more than N1.7 trillion in taxes, levies and other regulatory fees.

The Nigeria News Agency reports that Mr Babatunde Fowler, Chairman, FIRS, recently accused MTN of deducting tax from the N330 billion fine it paid to the Nigerian Communications Commission (NCC).

Fowler maintained that fines and penalties for regulatory infractions were revenues paid to the Federal Government and should not be subjected to any tax deduction.

NCC had in October 2015 imposed a N1.04 trillion fine on the telecommunications giant for alleged non-compliance with the deadline set by the commission to disconnect all unregistered SIM cards.

The regulator reduced the fine to N780 billion in December 2015, having taken into consideration the stability of the telecommunication sector.

The fine was further reduced to N330 billion after MTN had agreed to be listed on the Nigerian Stock Exchange (NSE).

 

 

Contact US: editor@nnn.com.ng, nnnnews247@gmail.com

Recent Posts

January 2020
M T W T F S S
« Dec    
 12345
6789101112
13141516171819
20212223242526
2728293031  

NNN News Nigeria: NNN is an online Nigeria news portal that publishes breaking news in politics, business, entertainment, sport, security, features, opinion, environment, education, technology, and the world news at large. NNN publishes only news that is factual, credible, verifiable, authoritative and investigative. NNN is a media subscriber of the News Agency of Nigeria. NNN is a unique media organization that is founded in the spirit of Article 19 of the Universal Declaration of Human Rights, comprising of ordinary people with an overriding commitment to seeking the truth and publishing it without fear or favor. Contact: editor@nnn.com.ng

© 2014 - 2019 NNN News Nigeria. All Rights Reserved.

editor@nnn.com.ng