Business Hilights

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Update on corporate taxpayer support for FIRS

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“Following the request by the Federal Inland Revenue Service (FIRS) to corporate taxpayers whose operations are able to remain open during the COVID-19 pandemic to pay their taxes ahead of established deadlines, the Service is pleased to announce that MTN Nigeria has initiated payments for its 2019 Company Income Tax (CIT) obligations ahead of the statutory deadline of June 30th.

As a result of constructive engagements with its Board and Management, MTN Nigeria agreed to continue its existing practice of initiating early payment for its CIT obligations. In this regard, it has committed to making full payment in a series of instalments ahead of the June 30th deadline. As a demonstration of this commitment, it has made payment of the first instalment.

FIRS would like to thank MTN for this demonstration of support for Nigeria during a time of significant disruption to the nation’s economy, and also to MTN’s own business.

FIRS Chairman, Muhammad Nami is particularly happy with this prompt response by MTN Nigeria and urges other companies to emulate MTN Nigeria so that together we shall continue to support the growth of Nigeria’s economy as well as business enterprises in the country.

Commenting on the agreement, MTN CEO Ferdinand Moolman said: “We value the relationship that we have built with the Federal Inland Revenue Service (FIRS) and are pleased to be able to deepen that relationship by collaborating closely with the government and its agencies to manage the challenge that COVID-19 represents to the nation. Conscious of the role companies play in sustaining government revenue and services, MTN has consistently initiated payments towards our CIT obligations well ahead of statutory deadlines and despite prevailing conditions. This year, the Board of MTN Nigeria has once again approved advance payments towards our annual tax obligations.”

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