This archive report was first published on 14 January 2020.
On January 14, 2020, the Nigerian government announced that it had withdrawn a $2 billion tax demand against South Africa's MTN Group, referring the case to the tax and customs authorities.
The tax demand was related to MTN's alleged non-payment of taxes on the import of equipment and payments to foreign suppliers from 2007 to 2017.
MTN's share value rose by more than 5% following the announcement, according to Reuters.
MTN has faced several challenges in Nigeria, including a $5.2 billion fine in 2015 for failing to disconnect unregistered SIM cards and a request in 2018 to return $8.1 billion that it had illegally sent abroad.
MTN Group Limited is a South African multinational mobile telecommunications company operating in many African, European, and Asian countries, with its head office in Johannesburg.
As of June 30, 2016, MTN recorded 232.6 million subscribers, making it the eighth-largest mobile network operator in the world and the largest in Africa.
