MTN hit with R71 billion fine: report

Like Borat said, Big pain in someone's @$$holes
 
Time for MTN and SA Government to find out who's who in the zoo.. If MTN pays even half of this expect a huge backlash from their threats about pulling out of SA due to tax evasion.

Yip.. MTN is kinda screwed if you ask me and I suspect they will try and lessen the fine to something inline with earnings in Nigeria. Pretty sure they will calc % users impacted vs total revenue and then negotiate based on this value unless it was found that illegal activity was conducted via MTN network during the period in which they might as well declare bankruptcy and withdraw.

Fun times for Ramaphosa because I'm sure Vodacom/fone and stakeholders in other operators are waiting to see what happens with tax evasion so he can't exactly go lightly on them regardless of situation in Nigeria when deficit is in dire straits and they need every bit of tax.
 
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The real irony is Cyril pointing to MTN while his own corrupt party is using state resources (tax) to enrich a few elites at the expense of SA's citizens..

MTN should pay up, the law is the law.

Africa, **** yeah!
 
evilstebunny said:
The real irony is Cyril pointing to MTN while his own corrupt party is using state resources (tax) to enrich a few elites at the expense of SA's citizens..

MTN should pay up, the law is the law.

Africa, **** yeah!
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I think my inference "whooshed" a tad over your head there.
Cyril was on the board of directors at MTN, he knows full well what they are doing.

http://www.2oceansvibe.com/2015/10/...sa-is-embroiled-in-a-massive-mtn-tax-scandal/

http://www.msn.com/en-za/news/featured/ramaphosa-and-mtns-offshore-stash/ar-AAfga73
 
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Suppose this just highlights what we all know about Nigeria .High risk of doing business there .And we wonder why africa is poor? cant see MTN paying full fine and in my mind highlights that no equity analyst can know everything no matter how smart they think they are.Ie if unit trust managers could see this fine coming surely they would have sold out?
 
So we actually agree Cyril is as corrupt as the rest of his 'pretend to be for the people while stealing them blind' commie commies?
 
lsheed_cn said:
I think my inference "whooshed" a tad over your head there.
Cyril was on the board of directors at MTN, he knows full well what they are doing.

http://www.2oceansvibe.com/2015/10/...sa-is-embroiled-in-a-massive-mtn-tax-scandal/

http://www.msn.com/en-za/news/featured/ramaphosa-and-mtns-offshore-stash/ar-AAfga73
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Nothing wrong with tax avoidance as long as it is legal (it might be unethical, but then to be honest, companies like MTN are not non-profits and need to create shareholder value). The illegal part about MTN's tax avoidance will come into play as they violated a number of government agreements regarding exceeding the amount of "management fees" offloaded to offshore companies (I think in most countries there is a limit of 2%).

Every other company does the same - look at Facebook SA and Google SA (both invoicing via Ireland)
 
Arthur said:
Hehe. Right. Instantly obvious now that I'm half awake. :D

The dofness was contagious.
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We like to hate MTN here on MyBB. :P

The Nigerian Government has had MTN in their sights for a while now. They need to make up for oil revenue shortfalls, and see MTN as an appropriate sponsor
 
imranpanji said:
We like to hate MTN here on MyBB. :P

The Nigerian Government has had MTN in their sights for a while now. They need to make up for oil revenue shortfalls, and see MTN as an appropriate sponsor
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I hold no particular candle for MTN or any MNO. I'm not a shareholder or employee or supplier, just an interested and concerned citizen saddened by how people rejoice when a grave injustice is done to them.
 
How is it a grave injustice?

They were given a deadline, failed to meet it when the other MNO's complied... and were fined due to non compliance.

I wish ICASA had the balls to do the same to our providers here when they blatantly ignore rules too.
 
lsheed_cn said:
How is it a grave injustice?

They were given a deadline, failed to meet it when the other MNO's complied... and were fined due to non compliance.

I wish ICASA had the balls to do the same to our providers here when they blatantly ignore rules too.
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The question we rather should ask : why did MTN ignore the deadline...
 
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