GRA cancels GHS8.2 billion MTN back tax

The Ghana Revenue Authority (GRA) has fully withdrawn the over GHS8.2 billion back tax it slapped on MTN.

The back tax was based on the claim by a “shady” and “dodgy” entity called Safaritech Ghana Limited that MTN hid 30% of revenue from government between 2014 and 2018.

Safaritech was said to have used a unique auditing methodology to arrive at its conclusion, which another reputable auditing firm, KPMG independently examined and found untenable.

MTN disputed the claim and went into a 21 day talks work GRA, at the end of which GRA has fully withdrawn the back tax.

MTN has therefore updated its report to both the Ghana Stock Exchange and the Johannesburg Stock Exchange about the withdrawal of the tax.

More soon…