The GH¢8.2 billion tax liability imposed on MTN Ghana by the Ghana Revenue Authority (GRA) has been withdrawn, the telecommunication company has said.
According to reports, the tax imposition was reversed after “extensive” discussions with authorities.
3news.com also gathers the earlier assessment made was based on wrong data, leading to wrong conclusion by the state’s tax collecting body.
The audit, which was said to cover the period 2014 to 2018, inferred that MTN Ghana had under-declared its revenue by 30 percent.
“Shareholders are advised that following extensive and productive discussions held during this 21-day period between MTN Ghana, MTN and relevant authorities in Ghana, the GRA has on 03 February 2023 fully withdrawn the Assessment,” MTN Ghana’s mother company said in a statement on Friday, February 3.
“MTN would like to further assure Shareholders and other stakeholders of MTN Ghana’s commitment to the highest standards of tax compliance and responsible corporate citizenship.
“MTN and MTN Ghana would like to thank all stakeholders involved for the support and collaboration to arrive at this amicable and mutually satisfactory full withdrawal of the Assessment.”
The company, headquartered in Johannesburg, South Africa, assured that “it remains confident in the economy of Ghana as well as its future prospects and maintains its planned investment and developmental initiatives over the medium-term to drive digital and financial inclusion”.