African phone companies have been pushing back on sporadic tax demands from countries and regulators on the continent.
Last week, six telecommunications chief executives — including MTN’s Ralph Mupita and Vodacom Group Ltd.’s Shameel Joosub — urged African leaders and policymakers to “rationalise” taxation on the mobile industry through the development of targeted fiscal policy reforms, according to an agreement signed in Rwanda.
MTN has a history of impasses with Nigerian authorities and was victorious in a dispute in the West African nation in 2020, when the government dropped a $2 billion claim for back taxes. More recently, Ghana had to abandon a $773 million back-tax bill against MTN that the company disputed. MTN shares fell as much as 5.6%, the most since Aug. 2, and were 5.1% lower by 4:13 p.m. in Johannesburg.which aims to encourage constructive discussions. To get your comments published, make sure it is civil and adds value to the discussion.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
MTN restates Nigeria foreign-exchange losses, appeals tax demandShares in MTN, Africa’s biggest wireless carrier, fell as much as 3% and traded 2.7% lower by 11:39 a.m. in Johannesburg.
Read more »
MTN restates Nigeria foreign-exchange losses, appeals almost R1bn tax demandMTN restates Nigeria foreign-exchange losses, appeals almost R1bn tax demand
Read more »
MTN shares dip on Nigeria forex lossesMTN Group has revised its estimate of unrealised foreign exchange losses in Nigeria.
Read more »
MTN Nigeria to localise more spending as FX losses biteMTN Nigeria, Africa’s largest mobile phone operator, is taking steps to localise more of its spending in anticipation of further foreign exchange losses in the second half of 2023.
Read more »
MTN slips amid Nigerian woes, and how badly will taxpayers get railroaded?Business brief | MTN slips amid Nigerian woes, and how badly will taxpayers get railroaded?
Read more »
MTN Nigeria’s H1 2023 Performance Soars: Subscriber Base and Earnings SurgeIn a statement released on Friday evening on the Nigeria Stock Exchange (NSE), MTN Nigeria unveiled their Half-Year 2023 (H1 23) results..
Read more »