MTN Nigeria Communications Plc – Publication on tax remittance for FY2021
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