MTN Group has announced that Nigeria’s Attorney General has dropped a USD2 billion tax demand against its local subsidiary, paving the way for an end to a legal battle between the parties. In September 2018 MTN announced it was disputing a claim for back taxes of around USD2 billion by the Attorney General, and said it had commenced legal action in Nigeria. Earlier this month MTN received a letter stating that, following careful review and due consultation with relevant statutory agencies, the Attorney General had decided to refer the matter to the Federal Inland Revenue Service and Nigeria Customs, with a view to them resolving the issues. Accordingly, the Attorney General has withdrawn its letter of demand for USD2 billion, while MTN says it will withdraw its legal action and engage with the authorities on the issue.
‘We appreciate this decision of the Attorney General which paves the way to an orderly and amicable resolution of this matter,’ commented MTN Group CEO, Rob Shuter, adding: ‘MTN remains fully committed to meeting our fiscal responsibilities and contributing to the social and economic development of Nigeria and all regions where we operate.’
Nigeria, MTN Group, MTN Nigeria, Corporate/Financial, Wireless
