Telecommunications giant, MTN, has dismissed reports of financial malfeasance in its operations.<\/p>\n
According o the company, it complies with the NCA\u2019s rules and regulations on submitting operational and financial data on monthly and quarterly basis to the Ghana Revenue Authority (GRA).<\/p>\n
[contextly_sidebar id=”uZplwMXP7VPezYRw0IeLxMJezScVQQVM”]There have been claims that MTN under reports its profits, but following an audit finding in 2013 by the regulator, NCA, the telecom operator says it did no such thing.<\/p>\n
According to the company, they have paid in excess of GHC 3 million for liability in respect of regulatory fees and over GHC 14 million for penalty in respect of international incoming traffic.<\/p>\n
In a statement copied to Citi Business News<\/strong>, the company said\u00a0\u00a0it was a leading taxpayer in Ghana with \u201ca conglomeration of taxes including VAT, CST,NHIL,NCA fees etc resulting in 34.5percent of every GHS1 cedi\u00a0\u00a0spent by an MTN subscriber being paid as taxes.\u2019\u2019<\/p>\n Speaking on Eyewitness News<\/strong>, the Corporate Services Executive of MTN, Cynthia Lumor categorically stated that her outfit does not under declare its revenue.<\/p>\n \u201cThe issue has to do with a disagreement of the interpretation of how to calculate the 1 percent (regulatory fees)\u2019\u2019<\/p>\n In computing net revenues for calculation of 1percent of regulatory fees, MTN deducted expenses including dealer commissions and incentives.<\/p>\n The NCA disagreed with the operator\u2019s computation, citing an amendment to the definition of net revenues in the Mobile License.<\/p>\n Following extensive discussions with the NCA, MTN says it has since paid the amount<\/p>\n <\/p>\n","protected":false},"excerpt":{"rendered":" Telecommunications giant, MTN, has dismissed reports of financial malfeasance in its operations. According o the company, it complies with the NCA\u2019s rules and regulations on submitting operational and financial data on monthly and quarterly basis to the Ghana Revenue Authority (GRA). [contextly_sidebar id=”uZplwMXP7VPezYRw0IeLxMJezScVQQVM”]There have been claims that MTN under reports its profits, but following an […]<\/p>\n","protected":false},"author":5,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jnews-multi-image_gallery":[],"jnews_single_post":[],"jnews_primary_category":[],"jnews_social_meta":[],"jnews_override_counter":[],"footnotes":""},"categories":[],"tags":[20,4],"class_list":["post-88087","post","type-post","status-publish","format-standard","hentry","tag-mental-health-authority","tag-st-augustines-college"],"_links":{"self":[{"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/posts\/88087","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/citifmonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=88087"}],"version-history":[{"count":0,"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/posts\/88087\/revisions"}],"wp:attachment":[{"href":"https:\/\/citifmonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=88087"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/citifmonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=88087"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/citifmonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=88087"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
\nBy: Lorrencia Nkrumah\/citifmonline.com\/Ghana<\/p>\n