Reports indicate that MTN Nigeria Communications has been ordered by the Lagos State division of the Tax Appeal Tribunal to pay $72,551,059 in tax default to the Federal Inland Revenue Services from 2007 to 2017.
However, the company has been absolved from paying the sum of $21,039,807 as penalties and interest on the principal sum.
The verdict and order were given by a five-person panel led by Professor A. B. Hamed while delivering judgment in an appeal numbered TAT/LZ/VAT/075, filed by the telecommunication company against the request by the FIRS to pay the default.
Following a consideration of all the processes filed by parties and citing a plethora of authorities, the Tribunal held that the issues are all resolved in favor of the Respondent, and the Appellant is therefore ordered to settle the assessed liabilities accordingly.
However, issue five concerning penalty and interest is resolved in favor of the Appellant and is therefore set aside by the Tribunal.
