BUSINESS

MTN Owes Nigeria $2bn Tax Remittance, Says Finance Minister

The federal government has revealed that telecommunications giants, MTN, owes Nigeria two billion dollars tax remittance.

NewsBeatng reports that MTN has already agreed a payment plan with the Federal Inland Revenue Service (FIRS) to pay up the tax remittance.

This was made known by the Minister of Finance, Budget and National Planning, Zainab Ahmed, during a visit of the Commandant of the National Institute for Security Studies (NISS), Ayodele Adeleke, on Friday.

Ahmed said “MTN is owing the government, but there has been a payment plan undertaken with the Federal Inland Revenue Service (FIRS) they are following.

“They are in Nigeria and have investments all over the country and are following through with the payment commitment made with the FIRS.”

Meanwhile, the Tax Appeal Tribunal (TAT) had ordered Multichoice Nigeria Limited to pay 50 per cent of N1.8 trillion or N900 billion which the Federal Inland Revenue Service (FIRS) determined through a forensic audit of the parent company of DSTV and GOTV.

The sum constitutes what the tax agency calculated as due in taxation to the Federal Government of Nigeria from Multichoice after an investigation over several months to determine the extent to which Multichoice has been evading taxes in Nigeria.

The tribunal sitting in Lagos also ordered the South African firm to pay an additional N90 billion or 10 per cent of the N900 billion to the FIRS, approximating to $2.2bn, precedent to hearing of its appeal against the Demand Note of N1, 822, 923,909,313.94 served on it by the tax agency as the assessed amount owed over the years that it has failed to pay tax.

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