Share

MTN says Nigeria is seeking to recover $2bn in back taxes

MTN [JSE:MTN] said Nigeria is seeking about $2bn in back taxes from the embattled wireless carrier after refusing to accept the results of a self-assessment by the company.

The office of Nigeria’s attorney general calculated that the company owes $2bn related to the import of foreign equipment and payments to suppliers over the past 10 years, MTN said in a statement on Tuesday.

The company believes it has settled all tax obligations, it said.

The news comes less than a week after MTN was told by the Nigerian central bank to return $8.1bn it is alleged to have illegally taken out of the country. While the company also refutes that accusation, the shares have slumped by almost 20%.

 MTN’'s shares were trading at R82.75 by at 13:20 on day on the JSE, down by 4.67%.

* Sign up to Fin24's top news in your inbox: SUBSCRIBE TO FIN24 NEWSLETTER
We live in a world where facts and fiction get blurred
Who we choose to trust can have a profound impact on our lives. Join thousands of devoted South Africans who look to News24 to bring them news they can trust every day. As we celebrate 25 years, become a News24 subscriber as we strive to keep you informed, inspired and empowered.
Join News24 today
heading
description
username
Show Comments ()
Rand - Dollar
19.01
-0.5%
Rand - Pound
24.01
-0.5%
Rand - Euro
20.52
-0.3%
Rand - Aus dollar
12.35
+0.0%
Rand - Yen
0.13
-0.6%
Platinum
900.15
+0.4%
Palladium
1,000.00
-0.2%
Gold
2,209.40
+0.7%
Silver
24.58
-0.3%
Brent Crude
86.09
-0.2%
Top 40
68,189
+0.8%
All Share
74,373
+0.6%
Resource 10
57,035
+2.5%
Industrial 25
103,662
+0.4%
Financial 15
16,492
-0.2%
All JSE data delayed by at least 15 minutes Iress logo
Company Snapshot
Editorial feedback and complaints

Contact the public editor with feedback for our journalists, complaints, queries or suggestions about articles on News24.

LEARN MORE
Government tenders

Find public sector tender opportunities in South Africa here.

Government tenders
This portal provides access to information on all tenders made by all public sector organisations in all spheres of government.
Browse tenders