The Ghana Revenue Authority (GRA) has fully withdrawn the over GH¢8.2 billion back tax it slapped on MTN Ghana.
The back tax was based on the supposed assessment by a “shady” and “dodgy” entity called Safaritech Ghana Limited, in which it claimed that MTN hid 30% of revenue from government between 2014 and 2018.
Safaritech was said to have used a unique auditing methodology that audited CDRs (call data records) and other data to arrive at its conclusion, which another reputable auditing firm, KPMG independently examined and found untenable.
MTN disputed the claims and went into a 21-day talks with GRA, at the end of which GRA has fully withdrawn the back tax.
MTN Group has therefore updated its records to both the Ghana Stock Exchange and the Johannesburg Stock Exchange informing shareholders about the withdrawal of the tax.
The company also thanked all stakeholders for the support in arriving at a satisfactory conclusion and assured Ghanaians that its planned investments in the country are still intact.