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Feb
16
2023
By The African Mirror
MTN commits to $1 bln Ghana investment after government scraps tax claim

MTN commits to $1 bln Ghana investment after government scraps tax claim

BUSINESS
MTN Group will invest $1 billion in Ghana over the next five years, the mobile operator said, after the government exempted its Ghanaian unit from tax claims worth about $773 million. The investment comes on the heels of the Ghana Revenue Authority exempting the company's bill for back taxes earlier this month after the incident sparked a diplomatic reaction by the South African foreign minister. The tax claim was initially issued after the revenue authority audited the company for the years 2014 to 2018 and inferred that it under declared its revenue by about 30% during the period. MTN Chief Executive Officer Ralph…
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Feb
04
2023
By The African Mirror
Gold Fields disputes Ghana tax bill

Gold Fields disputes Ghana tax bill

NEWS
SOUTH Africa-listed gold miner Gold Fields said it is disputing tax payments demanded by the Ghana Revenue Authority (GRA) after an audit and is working with the tax authority to resolve the matter. Gold Fields, which has three gold-mining operations in Ghana, said it could not disclose the size of the back taxes bill but said it is "nowhere close" to the amount Ghana has demanded from mobile operator MTN. The Ghana tax authority last month slammed mobile operator MTN with a $773 million bill for back taxes after auditing it for the years 2014 to 2018, an assessment MTN is fighting as…
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Jan
29
2023
By The African Mirror
$77-millin tax dispute: SA calls on MTN, Ghana to resolve

$77-millin tax dispute: SA calls on MTN, Ghana to resolve

BUSINESS
SOUTH Africa's foreign minister Naledi Pandor called on mobile operator MTN Group and the Ghana Revenue Authority to find a solution to a $773 million tax dispute. Earlier this month MTN said the Ghana Revenue Authority issued the company's subsidiary MTN Ghana with a bill for back taxes after auditing it for the years 2014 to 2018 and inferring that it had under-declared its revenue by about 30% during the period. MTN, which has a presence in 19 countries in Africa and the Middle East, said at the time that it disputed the "accuracy and basis" of the assessment and that it would fight…
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