Uganda’s biggest telecommunications company MTN has denied government accusations that it has been understating its revenues, insisting that it was fully meeting all its tax obligations.
“MTN revenues are independently audited and we remain firmly of the view that all revenues have been correctly accounted for and we are compliant on all tax matters,” MTN Uganda said in an email to Reuters on Thursday.
“Where queries are raised during tax assessments … MTN works with the relevant authorities to resolve the queries according to the law.”
They have been found that in some instances they have not been making full declarations of transactions which constitutes undermining Uganda’s economy.
MTN Uganda earned $373.99 million in revenues in 2017, up 10 percent from the previous period.
Reuters
