Friday, May 7Elite News ----------- For Adverts: Call 0776026579 / 0702763136 --------
Shadow

Tag: MTN South Africa

MTN Uses Netherlands Tax Haven to Escape African Tax Bills

MTN Uses Netherlands Tax Haven to Escape African Tax Bills

Business, FEATURED, NEWS, TECH
South African telecoms giant MTN appears to have avoided paying any capital gains tax in Uganda on the lucrative sale of its investment in mobile phone masts in the country. MTN’s latest financial statements show a profit of 1.3 billion South African Rand – almost $80 million — from the sale of its interests in Uganda. Taxed at the standard 30 percent rate, this could have yielded $25 million for the hard-pressed country. According to the newspaper, MTN had a 49 percent shareholding in a Dutch joint venture company which ultimately owns the towers, and it sold its stake in this Dutch company instead of selling the towers themselves. Now look at this separate story, from Ghana Business News: Ghana could miss out on as much as GH¢400 million in capital gains tax following t...
S.Africa Mobile Giant MTN Exits Middle East To Focus On Africa Due To COVID-19  Impact

S.Africa Mobile Giant MTN Exits Middle East To Focus On Africa Due To COVID-19 Impact

Business, FEATURED
By Our Reporter Africa's largest mobile operator, and South African telecom giant MTN, announced Thursday it would pull out of the Middle East in the medium term, to concentrate on its pan-African strategy resolving to simplify its portfolio and exit its Middle Eastern assets in an orderly fashion. The group will scrap its interim dividend under a blueprint to navigate the coronavirus pandemic - which posed an unprecedented socio and macroeconomic challenge rendering trading conditions difficult. MTN CEO, Rob Shuter, mentioned strong results during the COVID-19 period in his statement, singling out great performances in Nigeria, Ghana and home base South Africa. The company which was founded in 1994, lists operations in Sudan, Syria, Yemen and - as well as Iran and Afghanista...
WP2Social Auto Publish Powered By : XYZScripts.com