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MTN Clears Air on Tax Remittance Discrepancies, Remits N757.7 Billion in 2021

MTN Clears Air on Tax Remittance Discrepancies, Remits N757.7 Billion in 2021

MTN Nigeria Communications Plc has stated that it made a total contribution of up to N757.7 billion to the federal government of Nigeria and its relevant agencies through taxes, levies, fees and duties.

This was stated in a disclosure signed by Uto Ukpanah, the company secretary in a statement titled; “MTN Nigeria Publication on Tax Remittance for the 2021 Fiscal Year.”

It also stated that the company is committed to paying all taxes due and on time and has zero tolerance for non-compliance.

It stated, “MTN Nigeria Communications Plc is aware of the media report regarding discrepancies in the figure communicated by the company.

“As at 31st December 2021, the company reported that it made a total contribution of up to N757.7 billion to the federal government of Nigeria and its relevant agencies through taxes, levies, fees and duties.

“Without prejudice but specific to the Federal Inland Revenue Service, direct remittances by the company to FIRS in 2021 was N291.7 billion, made up of the details listed below, while the balance represents VAT, levies, fees and duties paid to the federal government agencies.”

In a breakdown, the company highlights that value added tax on revenue was N98.99 billion, withholding tax was N71.18 billion, companies income tax was N99.29 billion, stamp duties was N8.48 billion, tertiary education tax was N10.64 billion, information Technology Levy was N3.09 billion.

The company said, “MTN Nigeria is a tax compliant organization with all its tax obligations settled. This is backed by the FIRS’s testimonial naming the company one of the most tax-compliant organizations in Nigeria for the year 2021.

The company is committed to paying all taxes due and on time and has zero tolerance for non-compliance. The above is to clarify the information previously released NTN Nigeria.

Reports said MTN Nigeria Communications Plc’s total tax contribution to all government agencies including the FIRS amounted to N757.6 billion.

The company paid a total of N618.7 billion in direct and indirect taxes to the FIRS in the 2021 tax year, which makes it the largest single biggest contributor to taxes in Nigeria at 13.5%.

About Bukola Olanrewaju

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