Shares in MTN Group took a smack on Monday after it said it was facing a R13-billion claim from Ghana’s tax authority.
tumbled on Monday morning trading in Johannesburg after the emerging markets telecommunications giant said on Friday that it was facing a R13-billion claim from Ghana’s tax authority.
The group said on Friday, after markets closed in Johannesburg, that the Ghana Revenue Authority had slapped MTN Ghana with a notice of assessment of tax liability along with a 21-day temporary withdrawal “to allow for further engagement”. The assessment amount of US$773-million includes penalties and interest charges, MTN said.
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 shares lose 6% on Ghana tax disputeThe company says it disputes the ‘accuracy and basis of the assessment, including the methodology used in conducting the audit’
Read more »
MTN Ghana hit with bill of $773 million for back taxesThe Ghanaian subsidy of South African mobile operator MTN Group has received a bill for back taxes of around $773 million, including penalties and interest charges, the parent company said on Friday.
Read more »
MTN gets $773 million Ghana tax bill it 'strongly disputes' | BusinessMTN, Africa's largest wireless carrier, said it's received a $773 million back-tax bill, including penalties and interest charges, in Ghana that it plans to fight. | News24_Business
Read more »
REVENUE ROW: MTN rubbishes Ghana tax authority’s R13bn tax claimThe mobile network provider strongly disputes the tax bill, questioning the accuracy and basis of the assessment, including the methodology used in conducting the audit.
Read more »
MTN to fight R13bn bill after falling foul of Ghana’s tax collectorThe government in the West African country insists the mobile operator underdeclared its revenue by a third
Read more »
Cristal Challenge: The favourite stock picksMTN, Renergen, Sasol, City Lodge, Purple Group, Sibanye, Shoprite and Santova are among the top shares of more than 203 entrants
Read more »