MTN contributed 13.5% of FIRS’ total tax collection for 2021

…recognised as one of the top 20 taxpayers by FIRS

Nigerian telecoms giant, MTN Nigeria Communications PLC’s total tax contribution to all government agencies including the FIRS amounted to N757.6 billion.

The company paid a total of N618.7 billion in direct and indirect taxes to the FIRS in the 2021 tax year, which makes it the largest single biggest contributor to taxes in Nigeria at 13.5%.

This was disclosed at the National Tax Dialogue organised by the FIRS.

What the statement said:

The Minister of Finance, Zainab Ahmed disclosed that MTN Nigeria is Nigeria’s most tax compliant organisation. She revealed that Nigeria’s other tax revenue objectives are to “institutionalise a healthy tax culture among Nigerians. The right attitude towards taxation that will enable every Nigerian to become a co-guardian of the tax system and the commonwealth.”

She added that it will create a participatory system of taxation whereby the taxpayers and other stakeholders understand and accept that they have an equal stake in the tax system.

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What you should know

• FG disclosed that in 2021, MTN Nigeria’s total tax contribution to all government agencies including the FIRS amounted to N757.6 billion, while FIRS collected a total of N6.4 trillion in tax revenue.
• It added that MTN Nigeria paid a total of N618.7 billion in direct and indirect taxes to the FIRS in the 2021 tax year, representing approximately 13.5% of the total FIRS collection for the year.
• Nairametrics reported earlier this year that MTN Nig Plc in its released 2021 FY Audited Financial Statement, revealed a 22.90% growth in revenue from N1.35 trillion to N1.65 trillion in the current period.
• The company reported a 45.5% growth in net profit of N298.65 billion from N205.21 billion in the corresponding period of 2020.

Nairametrics

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