Exempt Telecommunication companies from Stabilization levy-MTN appeals

Ghana News–Ghana’s leading telecommunications company; MTN is appealing to government to exempt telcos from paying the National Fiscal stabilization levy.

Speaking at a media engagement in Kumasi, Corporate Services Executive of MTN; Sam Koranteng explained that MTN is the only telecommunications company in Ghana that has been paying the tax since their industry was roped in.

He believes removing the tax burden from MTN will enable MTN invest that money into the network and consequently give Ghanaians top-notch services and also bridge the digital divide between Ghana, Africa and the rest of the world.

The National Fiscal stabilization levy is 5% of the profits companies in specific categories declare.

“Previously, telecommunications was not part of the industries required to pay that levy. When telecommunications was added, only MTN was paying which implied other networks were not declaring profits. So in essence, MTN has been bearing the tax burden on behalf of all telecommunication companies in Ghana”, he explained.

He says for instance, “in 2017, in terms of the amount that came into government kitty in terms of that tax, MTN paid 24%”.

He also explained that MTN’s strategy for 2018 is to put the customer at the centre of the business. He believes that will impact on the technology and the overall business for 2018.

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