The Ghanaian Government has fined Africa’s largest carrier, MTN, with $773 million in tax penalties amid the country’s raging economic chaos.
The largest wireless carrier in Africa, MTN, reported it received a $773 million back-tax bill from Ghana, which includes penalties and interest charges, and intends to contest it.
In a statement on Friday, the network provider said it received a notice from the Ghanaian Government alleging that it under-declared its revenue in the country by 30% between 2014 and 2018, thus the $773 million tax penalty.
MTN asserts that it vehemently contests the $773 million back-tax bill, penalties, and interest charges that its subsidiary in Ghana was issued.
It also expressed its disapproval of the Ghana Revenue Authority’s (GRA) bill, saying it lacks a reliable source of income.
“MTN Ghana believes that the taxes due have been paid during the period under assessment and has resolved to vigorously defend MTN Ghana’s position on the assessment.
“MTN Ghana strongly disputes the accuracy and basis of the assessment, including the methodology used in conducting the audit,” it said.
MTN Ghana strongly disputes the accuracy and basis of the assessment, including the methodology used in conducting the audit.
