Court Adjourns Tax Case Between MTN And Attorney General

0
83

The case which involves a $2 billion tax dispute between South African telecommunications giant, MTN Groups and the government of Nigeria was on Wednesday adjourned until October 19.

Nigeria’s attorney general, Abubakar Malami, on behalf of the President Muhammadu Buhari government had demanded MTN to pay the $2 billion last September.

MTN however, claimed that the requested tax money was without merit, accusing the attorney general of exceeding his powers in making the request.

The adjournment of the case was moved by lawyers representing the Nigerian government.

The telecommunications giant has faced financial challenges regarding the tax demand and a fine over unregistered SIM cards.

MTN said it would sell more shares to the public and increase local ownership in MTN Nigeria once the tax row was resolved.

Therefore, in December MTN promised to make a $53 million payment to resolve a separate dispute in Nigeria after the Central Bank of Nigeria ordered the company and its lenders to bring back to the country $8.1 billion it was alleged to have repatriated using improperly issued paperwork between 2007 and 2008.

The settlement ended a four-month row that had hammered MTN’s share price in Johannesburg.

LEAVE A REPLY

Please enter your comment!
Please enter your name here