FG paid N95.5 billion for 2020 company income tax, says MTN - The Naija Weekly

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Tuesday, August 31, 2021

FG paid N95.5 billion for 2020 company income tax, says MTN


 


MTN Nigeria has revealed it paid the federal government N95.5 billion for 2020 company income tax (CIT) amid claims of tax indebtedness to the government.


Its company secretary, Uto Ukpana, made the clarification in a notice posted on the website of the Nigerian Exchange (NGX) Limited on Tuesday.


Mrs Ukpana recalled that on January 8, 2020, the office of the Attorney General of the Federation had transferred the case of MTN Nigeria’s alleged indebtedness to the Federal Inland Revenue Service (FIRS) and the Nigerian Customs Service for resolution.


She explained that MTN Nigeria cooperated with the authorities and provided relevant evidence to comply with all extant tax and regulatory obligations fully.


“As recently as 2020, the tax authority commended MTN Nigeria for its prompt payment of dues. In addition, when asked earlier, the company agreed to make advance tax payments ahead of established deadlines to support the government’s revenue drive,” Mrs Ukpana explained. “This was also the case in 2020 when in response to FIRS appeal to support the government, MTN Nigeria made an early payment of its 2019 company income tax (CIT) of N46.9 billion.”


MTN Nigeria did the same “this year between March and June, making early payments of N95.5 billion for the 2020 CIT, which was due June 30,” she said.


Mrs Ukpana pledged MTN Nigeria’s commitment to conducting its business per applicable laws.


She added, “We are also committed to contributing to the social and economic development of Nigeria.”


NAN

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