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“We Remitted N757.7b in 2021,” MTN Reacts to Tax Remittance Discrepancies

“The company is committed to paying all taxes due and on time and has zero tolerance For non-compliance. The above is to clarify the information previously released by MTN Nigeria.”

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MTN and ETAP

MTN Nigeria has reacted to media reports indicating discrepancies in tax remittances to the Federal Government.

The telecom giant said it made a total contribution of up to N757.7 billion to the Federal Government and its relevant agencies through taxes, levies, fees, and duties.

In a disclosure obtained by TechEconomy, titled; “MTN Nigeria Publication on Tax Remittance for the 2021 Fiscal Year,” Uto Ukpanah, Secretary, MTN Nigeria stated that the company is committed to paying all taxes due and on time and has zero tolerance for non-compliance.

“MTN Nigeria Communications Plc (MTN Nigeria or the Company) is aware of the media reports regarding discrepancies in the figures communicated by the Company.

“As of 31 December 2021, the Company reported that it made a total contribution of up to N757.7 billion to the Federal Government of Nigeria and its relevant agencies through taxes, levies, fees, and duties.

“Without prejudice but specific to the Federal Inland Revenue Service (FIRS), direct remittances by the Company to FIRS in 2021 was N291.7 billion, made up of the details listed below, while the balance represents VAT, levies, fees, and duties paid to other Federal Government agencies.”

MTN stated that it is a tax-compliant organization with all its tax obligations settled backed by the Federal Inland Revenue Service’s testimonial naming it one of the most tax-compliant organizations in Nigeria For the year 2021.

“The company is committed to paying all taxes due and on time and has zero tolerance For non-compliance. The above is to clarify the information previously released by MTN Nigeria.”

In a breakdown, the company highlights that value added tax on revenue was N98.99 billion, withholding tax was N71.18 billion, companies income tax was N99.29 billion, stamp duties was N8.48 billion, tertiary education tax was N10.64 billion, information Technology Levy was N3.09 billion.

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Justice Okamgba functions as CONTENT STRATEGIST for TechEconomy.ng with penchant for content planning, development, analysis, management, and measurement. Contact: [email protected]

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  1. Pingback: “We Remitted N757.7b in 2021,” MTN Reacts to Tax Remittance Discrepancies - News Curators

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