South Africa’s foreign affairs minister Naledi Pandor has delivered a veiled warning to Ghana over its attempt to fine MTN R11.7 billion in back taxes.
South Africa’s foreign affairs minister Naledi Pandor says it is extremely concerning that South African companies are being targeted by governments like Ghana’s with exorbitant tax claims.with an 8.2 billion GHS bill for unpaid taxes, which MTN has vowed to oppose vigorously.In a statement on Friday, Pandor’s department highlighted that South Africa is one of Ghana’s most significant investors, with interests in several industries, including mining, communication, retail, and franchising.
“According to the Ghana Investment Promotion Centre, there are over 100 South African Companies registered and operating in Ghana, employing over 19,087 Ghanaians and 510 expatriates,” it said. The Department of International Relations and Cooperation also said that South African companies have taken on more than 170 projects in the country — valued at over $1,431,523,166 in capital investment.“Of major concern is that competitors of South African companies from other parts of the world do not appear to be subjected to the challenges that South African companies are subjected to,” it said.
These difficulties include unfavourable market conditions, volatile regulatory frameworks, inconsistent tax regimes, and delays in loan repayments. “These unfavourable conditions have led to disinvestment in some African markets by major South African companies,” said Dirco.
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