News Formal

MTN commits to $1 billion Ghana investment after government scraps tax claim

  • 📰 ChannelNewsAsia
  • ⏱ Reading Time:
  • 20 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 11%
  • Publisher: 66%

Business News News

Business Business Latest News,Business Business Headlines

JOHANNESBURG : MTN Group will invest $1 billion in Ghana over the next five years, the mobile operator said on Wednesday, after the government exempted its Ghanaian unit from tax claims worth about $773 million. The investment comes on the heels of the Ghana Revenue Authority exempting the company's bill

JOHANNESBURG : MTN Group will invest $1 billion in Ghana over the next five years, the mobile operator said on Wednesday, after the government exempted its Ghanaian unit from tax claims worth about $773 million.

The tax claim was initially issued after the revenue authority audited the company for the years 2014 to 2018 and inferred that it under declared its revenue by about 30 per cent during the period. "To be sure, macro-economic conditions are very challenging in the near term. That said we are focused on the medium and long term and we are seeing growth," he said in a statement.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 6. in BUSİNESS

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Earthquake could cost Turkey up to $111b: Business groupANKARA - Turkey’s worst earthquake in almost a century has left a trail of destruction that could cost Ankara up to US$84.1 billion (S$111.96 billion), a business group said, while a government official put the figure at more than US$50 billion. The combined death toll in Turkey and Syria from last Monday’s 7.8 magnitude quake approached 36,000 and looked set...
Source: asiaonecom - 🏆 10. / 59 Read more »

Earthquake could cost Turkey up to $111b: Business groupA government official put the figure at more than US$50 billion. Read more at straitstimes.com.
Source: STForeignDesk - 🏆 4. / 71 Read more »