Mtn you guys should pay your tax.

I don't know how MTN can win this case at the Tax Appeal Tribunal. Fines and penalties paid are not deductible expenses under the Nigerian tax (CITA).

What FIRS did was to add back the fine of N330bn to MTN profit and taxed them altogether. MTN must have deducted the fine from the profit before they arrived at their assessable and taxable profit.

FIRS is saying no, the fine is not an allowable business expenses but penalty and fine paid which will be added back. The implication is that the MTN tax will now be enhanced by at least 30% of the N330bn fine.

post=80953569:

.....and this case lingers on and on.
We hope to get to the root of this matter soonest.

MTN should do normal please.
We know how much they are raking from Nigerians day in day out.

PAY YOUR TAX!

You clearly are not well lettered if not you would understand what they are saying ... A 1 billion dollar fine is no small fine and must be deducted at gross because it actually eats into the operational taxable income of MTN . You see why we say the fine makes no sense at because it got Nigerian losing at every point and now the useless govt want to eat it's cake and have it ..It can't happen

cwale044:
Mtn you guys should pay your tax.

This above you brain grade so please keep quiet

Focusmind:
I don't know how MTN can win this case at the Tax Appeal Tribunal. Fines and penalties paid are not deductible expenses under the Nigerian tax (CITA).

What FIRS did was to add back the fine of N330bn to MTN profit and taxed them altogether. MTN must have deducted the fine from the profit before they arrived at their assessable and taxable profit.

FIRS is saying no, the fine is not an allowable business expenses but penalty and fine paid which will be added back. The implication is that the MTN tax will now be enhanced by at least 30% of the N330bn fine.

A fine is a cost of doing business and is derived from operational income at gross so you can't say it's not deductable.. You Nigerians think you are smart ..when I warned that the fine was very short sighted people like you thought otherwise and now the govt seeing it has shot itself in the foot is now resorting to self help in a bid to have it's cake and eat it .

Now ask yourself if a fine leads to financial loss will the company still pay tax? If that fine had lead to MTN winding up ( it could have ) Will Babatunde Fowler still tax them .. that taxes are charged strictly on profits should tell you FIRS is being criminal and silly

All this should have been discussed when the settlement was being negotiated...
Because it is now beginning to look like piling on against one of our biggest foreign investors.
>

9jaRealist:
Abegi, who levies taxes on a fine?

Darn! Nigerian officialdom has taken their dumbness or greed to a whole new level...
Tomorrow, they’ll be flying around chopping estacode futilely looking for foreign investors. SMH
>

They shot theimselves in the foot by that poorly thought out fine that did more damage to our economy than good and now they have resorted to omonile taxations system to try to steal from MTN again .

Lionsbet:
Maybe if they give us Biafra and quit being Nigerians, just maybe Igbos won't be massacred in S/A.

As it is, Nigeria is associated with doom. I see doom on the national flag. The clouds over the nation spells doom.

Ask me a country that is not working, i'll tell you it is one with a nitwitted herdsmanic Fulani tyrant under its tutelage.

See my signature.

And who are the people tarnishing the image of the Country outside?

Igbo no longer among them?

OlawaleSmarter0:



And who are the people tarnishing the image of the Country outside?

Igbo no longer among them?

Oh! come off that. Its not like the yoruba boys are not staining ours with the much celebrated cyber crime. We all are bad eggs, thats why we are tagged Nigerians. Crime is in our DNA.

Lionsbet:


Oh! come off that. Its not like the yoruba boys are not staining ours with the much celebrated cyber crime. We all are bad eggs, thats why we are tagged Nigerians. Crime is in our DNA.

Cut the bull crap

It is on a 70-30 % scale

kayusely70:
MTN should pay up, the company is making a lot of money by exploiting Nigerians with all kinds of gimmick.

If a company is making money, how does that affect you? MTN social responsibility alone is more than what some state government do for its people. Nigeria does not own a company that can replace MTN for now and the Nigeria government keep exploiting these foreign companies with lots of taxes, if MTN leaves Nigeria, its gonna be a bad omen for the country and more multi nationals are gonna be very careful with Nigeria. The taxes FIRS generates does not reflect on the standard of living in the country cos the government is very corrupt. You milk both the poor and rich to generate funds and then squander the money on frivolous things. The more you bill MTN, the more the users are billed.

Lionsbet:
Maybe if they give us Biafra and quit being Nigerians, just maybe Igbos won't be massacred in S/A.

As it is, Nigeria is associated with doom. I see doom on the national flag. The clouds over the nation spells doom.

Ask me a country that is not working, i'll tell you it is one with a nitwitted herdsmanic Fulani tyrant under its tutelage.

See my signature.

Nigerians are the problems of Nigeria

igbos inclusive

absolving igbos of blame is mischievous

OlawaleSmarter0:


Cut the bull crap

It is on a 70-30 % scale

I got loads of yorubas friends that are scammers. You cant envisage how much they are a threat to majorly the US community. The world associate Nigeria with scam, but they would be shocked at the exact numbers who are dominated by the yorubas.

Abeg as Naira Marley said in his soapy song, i cant say it in yoruba but it translates that it is who that is caught that will be labelled a criminal. The igbos carrying drugs and getting caught are just unlucky, its not like the yorubas are not carrying drugs too nah, maybe they are just being lucky.

I guess the scammers are not being lucky, go and ff effc page and see how the yorubas are prosecuted in their numbers. Its not like there are no Igbo scammers, I'm one and I'm just being lucky.

Imperare:

If they go, which network can replace them? They are the best

Story, i have mtn but i dont use it, airtel 4g is faster than mtn.

FarahAideed:


A fine is a cost of doing business and is derived from operational income at gross so you can't say it's not deductable.. You Nigerians think you are smart ..when I warned that the fine was very short sighted people like you thought otherwise and now the govt seeing it has shot itself in the foot is now resorting to self help in a bid to have it's cake and eat it .

Now ask yourself if a fine leads to financial loss will the company still pay tax? If that fine had lead to MTN winding up ( it could have ) Will Babatunde Fowler still tax them .. that taxes are charged strictly on profits should tell you FIRS is being criminal and silly

Bro, I agreed with you from the sentiment point of view. A fine is a cost of doing business. I consult for businesses in the oil and gas and always had running battles with FIRS.

The CITA act is crystal clear that fines and infractions paid are not deductible expenses. Except if the act is repealed and amended, the ruling of the tax tribunal will still be based on the CITA act, which does not recognize fines as a deductible expenses.

Intellectual discussion like this should not be an avenue to start hauling insults. This is the reason why people believes that Nigerians are always in anger mode. Any slightest disagreement, they provoke!

I never supported the fine as I am always on the side of businesses considering what businesses go through in Nigeria to survive.

kayusely70:
MTN should pay up, the company is making a lot of money by exploiting Nigerians with all kinds of gimmick.

MTN already paid the fine. The bone of contention here is whether or not the fine should be treated as an allowable expenses for tax purposes. MTN is arguing that the fine should be treated as an operating expenses before arriving at taxable profit while FIRS is disallowing it as operating expenses according to CITA. This is a very interesting case that will most likely get to the Supreme Court.

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FarahAideed:


A fine is a cost of doing business and is derived from operational income at gross so you can't say it's not deductable.. You Nigerians think you are smart ..when I warned that the fine was very short sighted people like you thought otherwise and now the govt seeing it has shot itself in the foot is now resorting to self help in a bid to have it's cake and eat it .

Now ask yourself if a fine leads to financial loss will the company still pay tax? If that fine had lead to MTN winding up ( it could have ) Will Babatunde Fowler still tax them .. that taxes are charged strictly on profits should tell you FIRS is being criminal and silly

God bless you FarahAideed.

I read most of your comments on the mtn vs the government dilemma and I agree with your posts 100%.

Majority of the posters you respond to are responding based on emotions. They have no skill or ability to dissociate emotions from reason.