MTN Ghana is vehemently contesting an alleged tax violation that the Ghana Revenue Authority (GRA) imposed on the business between 2014 and 2018.
The largest telecom company claims to be a tax-compliant corporate citizen and rejects the GRA's tax liability notice against it, which is for GH8,209,603,842.14 (US$773 million).
There are penalties and interest costs included in the assessment of $8,209,603,842.14.
According to MTN Ghana's research, the GRA "infers that MTN Ghana under reported its revenue by more than nearly 30% throughout the 5-year period of 2014 to 2018" based on the base component of the assessment (that is, excluding penalties and interest).
Using a third-party consultant and a novel methodology based on call data records (CDR), recharges, and other data, the GRA audited MTN Ghana for the years 20142018. MTN Ghana vehemently contests the veracity and foundation of the Assessment, as well as the auditing process' methodology. MTN Ghana stated, "MTN Ghana believes that taxes owed have been paid throughout the time under review.
MTN Ghana believed that during the time under assessment, the taxes owed had been paid.
In addition, the statement stated that MTN Group and MTN Ghana will keep in contact with the appropriate authorities on this issue and that MTN is unwavering in its belief that MTN Ghana is a tax-compliant corporate citizen.
It was said once more that MTN Ghana would like to reaffirm to its shareholders and other stakeholders that MTN Ghana is a responsible company with an unwavering commitment to transparency, good corporate governance, and compliance.
One of Ghana's biggest taxpayers is MTN Ghana
One of the biggest private sector taxpayers in Ghana is MTN Ghana, which has received multiple awards for its assistance in the GRA's efforts to raise money.
Over the years, the GRA has successfully finished a number of tax assessments against MTN Ghana and has given the company various taxpayer awards in honour of its commitment to the fiscal development of the nation.
MTN Ghana expressed gratitude to the GRA for its assistance throughout the procedure, particularly for allowing us to temporarily remove the Notice of Assessment.
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