The Ghana Revenue Authority imposed a fine of approximately $773 million on MTN Ghana, which is a part of MTN Group, for allegedly underreporting the amount of revenue it generated.
Penalties and interest are included in the fine.
According to a statement released by MTN Ghana, the Ghana Revenue Authority (GRA) presented the company with the bill after conducting an audit of the business for the years 2014 to 2018 and deducing that the company had underreported its revenue.
The Ghana Revenue Authority (GRA) claims that between 2014 and 2018, MTN underreported its revenue in Ghana by around 30 percent.
“MTN Ghana has resolved to defend MTN Ghana’s position on the Assessment,” the company said. “MTN Ghana believes that the taxes owed have been paid throughout the period under assessment and has resolved to defend MTN Ghana’s position on the Assessment.”
The company, which operates in 19 African and Middle Eastern nations, has stated that it disagrees with the “accuracy and basis” of the evaluation and intends to challenge it.
“Scancom PLC (MTN Ghana) stakeholders are advised that the Ghana Revenue Authority (GRA) issued the firm with a notice of assessment of tax liability,” the company said in a statement dated January 13, 2023, and headlined “Notice of Tax Assessment” (the Assessment).
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