MTN Uganda has denied accusations by government that it has been under declaring its revenues over the years and said it was tax compliant paying all its taxes.
The company’s denial of the accusation follows the recent deportations of its top executives from the country on allegations of compromising its national security.
“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 explained to news agencies.
The company added that where issues are raised during tax assessments, its officials cooperate with the relevant authorities to resolve the concerns according to the law.
MTN Uganda is the country’s largest telecommunications firm, with over ten 10 million subscribers. It is followed by Bharti Airtel.
MTN Uganda has also been under political pressure to list its shares on the Uganda Securities Exchange like it is doing in other countries in Africa.
The company is the final stages of renewing its 10-year licence with the regulator of the telecoms sector, the Uganda Communications Commission (UCC), the latter having demanded for US$58 million, even though President Museveni wants it pay US $100 million.
MTN Uganda earned $373.99 million in revenues in 2017, up 10 percent from the previous period.