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Breaking! MTN In Big Trouble, About To Loose $2 Billion

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MTN

It accused AGF Abubakar Malami, of “playing games” over the demand for the cash, which the government said was in tax arrears from the telecoms giant. Shuter spoke at a conference call where MTN’s 2018 annual results were presented to the country’s executives and stakeholders.

Image result for Pictures  Rob Shuter CEO Of MTN

Malami had last September written to MTN Nigeria, demanding the payment of $2 billion in tax arrears. He broke the cash down to a 10-year period for import duties, Value Added Tax (VAT) and withholding taxes on foreign imports/payments. MTN Nigeria had rejected the allegation, insisting that it had fully settled all outstanding taxes.

Image result for Pictures  Rob Shuter CEO Of MTN

The telco also sued the AGF. Reiterating the telco’s stance, Shuter described the legal process as “odd,” adding that the AGF had no right to collect tax on behalf of the Federal Government. He said MTN is a responsible firm which tax assessments are in line with the requirements of the relevant authorities.

Image result for Pictures  Rob Shuter CEO Of MTN

The transcript of the conference call reads: “I think if you look at our history for complicated tax disputes they can take years because you end up going through this tribunal, that tribunal etc. “Now, of course, what’s odd about the Nigeria situation is it’s not the Commissioner for Inland Revenue that we have the dispute with.

Image result for Pictures  Rob Shuter CEO Of MTN

It’s the attorney-general, who is really not mandated to collect tax. “So, the legal process is basically saying you’re playing a game that you’re not meant to be playing. And when we talk to the tax authorities they have no particular quarrel with where we are with our various assessments.

Image result for Pictures  Rob Shuter CEO Of MTN

“So, either we get the thing chucked out early on and the issue is finished, or it is just one of these lingering things that roll around in the system for a while. And personally, I don’t know which way it’s going to play out. “I’m just absolutely adamant that we’re a responsible company, we have paid the taxes we had to pay, and the tax authorities themselves aren’t saying that we owe them anything. So I think we’ve just got to stare this one down.”

Image result for Pictures  Rob Shuter CEO Of MTN

Also commenting on the issue, the telco’s Chief Financial Officer, Ralph Mupita, said the telco has thoroughly double-checked its books without finding any remote exposure. He said: “The audit committees of both Nigeria and (the) group, as you can well imagine, have gone through this very thoroughly in terms of all our tax exposures. And it’s the second time we’ve looked at this.

Image result for Pictures  Rob Shuter CEO Of MTN

“We looked at it at the half year when it was then a tax assessment before the letters came in August. “But we still believe there isn’t even a remote exposure that we would put in contingent liabilities. But I think it’s important to re-emphasize the point Rob raised.

Image result for Pictures  Rob Shuter CEO Of MTN

“In the course of having any tax disputes with the authorities these things can take years. So if this thing rolls on it’s no different from a transfer pricing matter you may have a dispute with authority in country x, y, z.” The hearing of the suit against the AGF first scheduled for November 8 last year has been adjourned to March 26.

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Borussia Dortmund Signs Hazard

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Borussia Dortmund have completed the signing of Borussia Monchengladbach winger Thorgan Hazard.

The Belgium international has signed a five-year deal with the Bundesliga runners-up having spent five years with Gladbach.

He becomes Dortmund’s second summer signing after Germany left-back Nico Schulz completed his move from Hoffenheim on Tuesday.

The final fee for Hazard has not been disclosed by either club, with reports suggesting it could be anywhere from €25 million (£22m/$28m) to €40m (£35.2m/$44.7m).

Hazard has had an agreement in place to join Dortmund for some time, with only the technicalities of the deal between the two clubs required to get it over the line.

The 26-year-old leaves Gladbach having made 182 appearances for the club in all competitions, scoring 46 goals and laying on 44 assists.

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PHOTOS Of One Of The Alleged Prostitutes Who Set Up Junior US Pops Up

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Junior US

Alleged photos of one of the said prostitutes who connived with the armed robbers who killed Nana Yaw Opoku aka Junior US in Philadelphia in the USA are fast going viral on social media.

The photos began trending barely 24 hours after the Philadelphia Police Department released footage of when Junior US was murdered in his home.

In the video just as was reported earlier by Ghpage.com, it was some ladies he was hanging out within his house a few hours to his birthday party that invited the killers to his house.

The footage started off with the girls and Junior in the house and then a knock sounded. One of the ladies rushed to open the door but and Junior US followed her to the door.

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Detailed Video of How Junior Us was Murderêd

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Two black men in black hoodie entered and shot him dead right at the gate. They proceeded to enter the room and searched for something later fled with the girls in the same car.

Social Media users are already circulating these photos alleging its one of the girls in the video who were hanging out with Junior US and invited the killers to the house to kill him.

Philadelphia Police Department has promised an amount of 20,000 US dollars to anyone who provides information leading to the arrest and conviction of the killers.

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Deadly Storm Brings Hail, Flooding And 132 Reports Of Tornadoes In Central US

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KUBILIVE – A deadly spring storm unleashed drenching rain, flash flooding and hail in the central United States — along with more than 130 reports of tornadoes in five days.

At least one person drowned in Oklahoma after driving around a barricade on a road in Perkins, the city’s Emergency Management office announced.

A majority of tornadoes were in Kansas and Missouri, CNN meteorologist Taylor Ward said. Of the total number, Friday had the most tornadoes reported at 39 and Tuesday was a close second at 32.

About 28 million people are under the threat of severe weather Wednesday, mostly in Texas, Oklahoma, Kansas, Missouri, Iowa, Illinois, and Ohio, CNN meteorologist Michael Guy said.

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