MTN paid N757.6 billion in Tax, is regarded as Nigerian best Tax Compliant Organization

MTN Nigeria Communications PLC, one of Nigeria's foremost telecoms companies, paid N757.6 billion in taxes to all government agencies, including the FIRS.

In the 2021 tax year, the company paid a total of N618.7 billion in direct and indirect taxes to the FIRS, making it Nigeria's greatest single contributor to taxes at 13.5 percent.

This was revealed at the FIRS's National Tax Dialogue, according to a statement obtained by Investingport.

According To The Statement

MTN Nigeria is Nigeria's most tax-compliant organization, according to The Minister of Finance Zainab Ahmed. She disclosed that Nigeria's additional tax revenue goals are to "institutionalise a healthy tax culture among Nigerians. The right attitude towards taxation that will enable every Nigerian to become a co-guardian of the tax system and the commonwealth.”

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●      The corporation reported a 45.5 percent increase in net profit to N298.65 billion, up from N205.21 billion in the same period in 2020.

●      It further stated that MTN Nigeria paid the FIRS a total of N618.7 billion in direct and indirect taxes in the fiscal year 2021, accounting for approximately 13.5 percent of overall FIRS collection for the year.

●      FG disclosed that in 2021, MTN Nigeria’s total tax contribution to all government agencies including the FIRS amounted to N757.6 billion, while FIRS collected a total of N6.4 trillion in tax revenue.