MTN may face another massive fine

MTN may be hit with a bill of 52 billion CFA francs for taxes and royalties in Cameroon, following an anti-corruption investigation.

By - January 21, 2016 Share on LinkedIn
MTN logo on glass door

MTN faces a potential bill of 52 billion CFA francs (R1.46 billion) in taxes and royalties from the national anti-corruption commission in Cameroon.

Reuters reported that Cameroon’s corruption board said Orange and MTN owe the country nearly 100 billion CFA francs in taxes.

This followed an investigation by the commission, which uncovered large amounts of unpaid taxes.

According to the report, “MTN owed nearly 52 billion CFA francs in taxes and royalties”.

MTN said it was not aware of any fines in its Cameroon operation, but is looking into the issue.

The fine comes amidst an ongoing battle in Nigeria, where MTN is facing a ₦780-billion fine for not abiding by the country’s SIM regulations.

The Nigerian Communication Commission fined MTN ₦1.04-trillion (around R71 billion at the time) in October 2015 for not disconnecting unregistered SIMs on its network.

After negotiations with Nigerian authorities, the fine was reduced by 25% to ₦780-billion.

More on MTN

MTN’s R59.7 billion Nigerian fine deadline contradiction

MTN must pay R58.5 billion fine by New Year’s: Nigeria

The real reason for Nigeria’s massive R59-billion fine on MTN

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