MTN Ghana is refuting the Ghana Revenue Authority’s (GRA) claim of tax infringement between 2014 and 2018. The GRA’s notice of assessment, based on a new methodology, suggests that the company has under-declared its revenues by about 30%, excluding interests and penalties.
Ghana: MTN slapped with $773m back tax. Is this just the beginning?
It’s a scramble for cash. Ghana’s revenue authority has imposed a $773m back tax on MTN as it seeks to rake in more revenue for its cash-strapped economy. With an ambitious revenue target for 2023, more tax bills on other major telecom players are expected to follow.