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MTN Nigeria Communications Plc – Publication on tax remittance for FY2021

By Published On: July 19th, 2022Categories: Corporate announcement

MTN Nigeria Communications Plc (MTN Nigeria or the Company) is aware of the media reports regarding discrepancies in the Figures communicated by the Company.

As at 31 December 2021, the Company reported that if made a total contribution of up to N757.7 billion to the Federal Government of Nigeria and its relevant agencies through taxes, levies, fees and duties.

Without prejudice but specific to the Federal Inland Revenue Service (FIRS), direct remittances by the Company to FIRS in 2021 was N291.7 billion, made up of the details listed below, while the balance represents VAT, levies, Fees and duties paid to other Federal Government agencies.
 

Tax Type Amount (in Naira)
Value Added Tax on Revenue 98,992,441,566
Withholding Tax 71,179,737,903
Companies Income Tax 99,286,807,015
Stamp Duties 8,476,826,512
Tertiary Education Tax 10,644,495,768
Information Technology Levy 3,092,455,533
Total Direct Remittance 291,672,764,297

 
MTN Nigeria is a tax compliant organisation with all its tax obligations settled. This is backed by the Federal Inland Revenue Service’s testimonial naming the Company one of the most tax compliant organisations in Nigeria For the year 2021.

The Company is committed to paying all taxes due and on time and has zero tolerance For non-compliance. The above is to clarify the information previously released by MTN Nigeria.

Uto Ukpanah, FCIS
Company Secretary
MTN Nigeria Communications PLC


MTN Nigeria Communications Plc (MTN.ng)

Share price: 201.00 NGN (0.00 | 0.00% – 16/08/22)

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