MTN:  6,212   +328 (+5.57%)  11/08/2020 00:00

MTN asks Nigerian tribunal to rule on tax treatment of $1 bln fine

LAGOS, Aug 2 (Reuters) - MTN Nigeria has asked a tax tribunal to decide whether it should pay corporate tax to the Nigerian government on a 330 billion naira ($1.1 billion) fine or be allowed to treat it as an operating cost, a spokesman for the telecoms firm said.

The local unit of South African telecoms group MTN said on Friday it had requested a judicial review after the Nigerian tax authority disagreed with the company's accounting treatment of the fine as an operating cost. (Reporting by Chijioke Ohuocha; Editing by Alexis Akwagyiram and Mark Potter)

First Published: 2019-08-02 15:55:31
Updated 2019-08-02 16:02:52

© 2020 Thomson Reuters. All rights reserved. Reuters content is the intellectual property of Thomson Reuters or its third party content providers. Any copying, republication or redistribution of Reuters content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters. Thomson Reuters shall not be liable for any errors or delays in content, or for any actions taken in reliance thereon. "Reuters" and the Reuters Logo are trademarks of Thomson Reuters and its affiliated companies.