MTN Nigeria Pays N142.4 Billion in Companies Income Tax

Following the recent reports that MTN Nigeria Communications Plc is owing the Federal Government of Nigeria a huge amount in Companies Income Tax (CIT), the leading telecommunications giant has set the record straight that it has paid all outstanding taxes and was commended by tax authorities in 2020.

MTN Nigeria said since COVID-19 plunged Federal Government revenue in 2020, it has been making advance tax payments to support government revenue drive, the company disclosed in a statement signed by Uto Ukpanah, Company Secretary, MTN Nigeria.

In 2020, when FIRS appeal for support, the telecom giant said it made an early payment of N46.9 billion for 2019 Companies Income Tax (CIT) and did the same earlier this year when it paid N95.5 billion for the 2020 CIT between March 2021 and June 2021 ahead of its 30 June 2021 due date.

The company has paid a total of N142.4 billion since COVID-19 disrupted business operations and plunged government resources.

MTN said “as recent as last year, the tax authorities commended MTN Nigeria for its prompt payment of dues. In addition, when asked earlier this year, the Company agreed to make advance tax payments ahead of established deadlines to support government’s revenue drive.

“This was also the case in 2020, when in response to FIRS appeal to support government, MTN Nigeria made an early payment of its 2019 Companies Income Tax (CIT) of N46.9 billion. The Company did the same this year, between March 2021 and June 2021; making early payments of N95.5 billion for the 2020 CIT, which was due on 30 June 2021.“