Business
MTN Hails AGF’s Withdrawal From Tax Evasion Suit
The Chief Executive Officer (CEO) of MTN Nigeria, Mr. Ferdi Moolman, has expressed satisfaction over the withdrawal of the Attorney General of the Federation and Minister of Justice from the tax evasion suit between the company and Nigeria.
The telecom firm had filed the suit against the government following the demand by the AGF that MTN should pay the tax bill of N242,244,452,215.97 and USD $1.283,610,357.86 relating to the import of equipment and payment to foreign supplies from 2007 to 2017.
MTN in a letter posted to The Nigeria Stock Exchange (NSE) signed by its Secretary, Uto Ukpanah, and made available to The Tide, said that the withdrawal of the AGF from the law suit was after careful review and due consultation with relevant agencies.
He said that AGF has decided to refer the matter to the Federal Inland Revenue Service (FIRS) and Nigeria Custom Service (NCS) to resolve the contentions in the indebtedness issue.
The MTN boss said that the company would follow due court process to withdraw its legal actions against the AGF and engage with the FIRS and NCS on the issue, adding that “MTN Nigeria remains committed to conducting its business in accordance with applicable laws in Nigeria.
“We are very pleased with the decision of AGF and we commend him for his wisdom. We maintain our dedication to building and maintaining cordial relationship with all regulatory authorities in the country”.
The CEO reiterated that the MTN would remain fully committed to meeting its fiscal responsibilities in contributing to the social and economic development of Nigeria.
The Lagos division of the Federal High Court had adjourned the suit filed against Nigeria by MTN over the disputed claims of tax evasion to 31st January, 2020.
The plaintiff is seeking among other declaratory reliefs, a declaration that the AGF’s demand of the sums of #242.244 billion and $1.3 billion dollars from MTN was premised on a process which was malicious, unreasonable and made on an incorrect legal basis.
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