JUST IN: MTN Rejects Tribunal Judgement On $47.8m VAT Award To FIRS

MTN Nigeria Communication Plc has rejected the judgment of the Tax Appeal Tribunal which upheld the principal payment of Value Added Tax liability of $47.8m that the company will remit to the Federal Inland Revenue Service.

A five-man panel of the Lagos state division of Tax Appeal Tribunal led by Professor A. B. Hamed, gave the judgment which compels MTN to pay $47.8m while setting aside the $87.9m interest and penalty charges that accrued from the tax default.

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