• About
  • Privacy Policy
  • Contact
Friday, August 29, 2025
No Result
View All Result
NEWSLETTER
Diplomatic Info
  • Home
  • Diplomacy
  • Embassy News and Info
  • Events
  • Nigeria
  • Business
  • Politics
  • Security
  • Cover Story
  • ECOWAS
    • Togo
    • Sierra Leone
    • Senegal
    • Nigeria
    • Niger
    • Mali
    • Liberia
    • Guinea Bissau
    • Guinea
    • Ghana
    • The Gambia
    • Cote D’Ivoire
    • Cabo Verde
    • Burkina Faso
    • Benin
  • Advertise
    • mail
  • Home
  • Diplomacy
  • Embassy News and Info
  • Events
  • Nigeria
  • Business
  • Politics
  • Security
  • Cover Story
  • ECOWAS
    • Togo
    • Sierra Leone
    • Senegal
    • Nigeria
    • Niger
    • Mali
    • Liberia
    • Guinea Bissau
    • Guinea
    • Ghana
    • The Gambia
    • Cote D’Ivoire
    • Cabo Verde
    • Burkina Faso
    • Benin
  • Advertise
    • mail
No Result
View All Result
Diplomatic Info
No Result
View All Result
Home Africa

Cash-strapped Ghana slams $773 million tax penalties on MTN

by Diplomatic Info
January 14, 2023
in Africa, Business
0
Cash-strapped Ghana slams $773 million tax penalties on MTN
0
SHARES
10
VIEWS
Facebook ShareShare on WhatsAppTweet it!

The Ghanaian government has fined MTN $773 million in tax penalties amid the country’s raging economic chaos.

The largest wireless carrier in Africa, MTN, reported receiving a $773 million back-tax bill from Ghana that it intends to contest. The bill includes penalties and interest charges.

The company stated that it received a notice from the Ghanaian government alleging that it under-declared its revenue in the country by 30 percent between 2014 and 2018, thus the $773 million tax penalty.

MTN asserts in a statement released on Friday that it vehemently contests the $773 million back-tax bill, penalties, and interest charges that its subsidiary in Ghana was issued.

Expressing its disapproval of the Ghana Revenue Authority’s (GRA) bill, MTN argued that it lacks a reliable source of income.

“MTN Ghana believes that the taxes due have been paid during the period under assessment and has resolved to vigorously defend MTN Ghana’s position on the assessment,” the telecommunication company said

“MTN Ghana strongly disputes the accuracy and basis of the assessment, including the methodology used in conducting the audit,” it added.

The penalty was imposed as the nation battles a debt crisis and record inflation.

Ghana has been fighting to keep its economy strong in the face of an external debt crisis.

A loan default was declared by the Ghanaian government in 2022, and all payments for debt service on some types of external debt were suspended.

The suspension of debt payments followed a staff-level agreement between Ghana and the International Monetary Fund (IMF) on a $3 billion bailout package to address the country’s economic problems.

Diplomatic Info

Diplomatic Info

Next Post
Nollywood actress Ireti Doyle says she’s “officially divorced” from husband 

Nollywood actress Ireti Doyle says she’s “officially divorced” from husband 

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recommended

IPOB, not responsible for killings, sit-at-home in Southeast — Nnamdi Kanu tells Soludo

IPOB, not responsible for killings, sit-at-home in Southeast — Nnamdi Kanu tells Soludo

3 years ago
Nigeria accepts invitation to join BRICS as partner country

Nigeria accepts invitation to join BRICS as partner country

7 months ago

Popular News

  • Israeli president says situation ‘very serious’ amid judicial overhaul debate

    Israeli president says situation ‘very serious’ amid judicial overhaul debate

    0 shares
    Share 0 Tweet 0
  • Buhari arrives Washington for U.S.-Africa leaders summit

    0 shares
    Share 0 Tweet 0
  • Angola has deployed troops in DR Congo to fight M23 rebels

    0 shares
    Share 0 Tweet 0
  • After two years of SEC denial, Oando can finally hold AGM

    0 shares
    Share 0 Tweet 0
  • I snubbed governors Tinubu sent to beg me after election; I’ll not stop fighting until Supreme Court rules: Atiku Abubakar

    0 shares
    Share 0 Tweet 0

Connect with us on Facebook

Subscribe to Our Newsletter

Enter your email now to join our community of readers, and get new contents straight to your inbox

We promise to not spam you

Thanks for joining in.

Category

  • Africa
  • Benin
  • Burkina Faso
  • Business
  • Cote D'Ivoire
  • Cover Story
  • Diplomacy
  • ECOWAS
  • Education
  • Embassy News and Info
  • Events
  • Ghana
  • Guinea
  • Guinea Bissau
  • International
  • Liberia
  • Mali
  • News
  • Niger
  • Nigeria
  • Politics
  • Programs
  • Security
  • Senegal
  • Sierra Leone
  • The Gambia
  • Togo
  • Uncategorized

Quick Links

  • About
  • Contact
  • Privacy Policy
  • Advertise

About Us

Providing strategic insights into important social, cultural, political, and economic factors that significantly influence business and nations, Diplomatic Info will examine these critical issues and provide strategies that create competitive advantages.

© 2023 Diplomatic Info - Built with Love by Creovantage.

No Result
View All Result
  • Home
  • Diplomacy
  • Embassy News and Info
  • Events
  • Business
  • Politics
  • Security
  • News
  • Cover Story
  • Africa
  • ECOWAS
    • Togo
    • Sierra Leone
    • Senegal
    • Nigeria
    • Niger
    • Mali
    • Liberia
    • Guinea Bissau
    • Guinea
    • The Gambia
    • Cote D’Ivoire
    • Ghana
    • Cabo Verde
    • Benin
    • Burkina Faso
  • International
  • Contact

© 2023 Diplomatic Info - Built with Love by Creovantage.