Reps Summon Adebayo Over MTN’s N2.6tn Alleged Tax Evasion

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The House of Representatives Public Accounts Committee pledged to ensure accountability for capital allowances granted to MTN Nigeria by the Ministry of Industry, Trade and Investment in the amount of $2.6 billion. naira.

She therefore summoned the Minister of Industry, Trade and Investment, Niyi Adebayo.

Chairman of the House Public Accounts Committee, Oluwole Oke, at the resumption of the investigative hearing on the audit questions on tax evasion issued by the office of the Auditor General of the Federation, noted that the report indicated that the documents relating to the N2.6tn depreciation were allegedly falsified.

Oke, who also noted that the committee had called on MTN for alleged tax evasion, said OAuGF, in its report, observed that the Federal Inland Revenue Service placed value on the telecommunications company, when in some cases without certificates and proof of depreciation issued by the ministry which reflects all the assets purchased by the company.

He said, “We have problems in this country where there are not enough funds for the government to carry out policies and programs, that is why we had to borrow even if there are losses of massive income.

“MTN also made appearances, where N2.6tn was considered the assessed value of the company’s assets and we demanded to know where they exist and who verified them as they had already claimed their value with FIRS.”

Oke stressed that Nigerians have a right to know the implications of MTN securing N2.6 billion tax exemptions on the economy.

The chairman said: ‘Parliament just wants to know whether to support the claim raised by the Auditor General or absolve the company of allegations of tax evasion because it would be wrong to accuse him of this if these documents match the company’s submission. .

“The question says we should talk about facts and law. You are here when we asked the Ministry of Industry and they said the local and foreign content was the certificates they issued to you.

“However, the Auditor General claims that this broadcast appears to have been tampered with, which was the basis of his request.”

MTN Managing Director, Ms Yemisi Adeleye, explained in her response that the company had submitted all relevant documents issued by the Federal Ministry of Trade and Industry reflecting the N2.6 billion valuation given to the company. .

According to her, a total sum of 148 billion naira was granted to MTN, while 210 billion naira was approved in 2018 after the visit to Ojota Switch as well as 190,629,586,000 naira in 2019 following the visit of Ojota Switch. Port Harcourt switch.

However, the committee decided that all officials involved in the inspection of the Federal Ministry of Trade and Industry should be brought before it.

The committee also requested tax records covering the periods under review from both MTN and FIRS for further legislative review.

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