MTN, Orange Telecommunications Outfits Fined over $160m in Cameroon

Cameroon’s anti-corruption agencies have imposed a punitive fine for tax evasion on telecommunications giant, MTN.

MTN and Orange telecommunications outfits were fined over $160 million with its naira equivalent about N32 billion.

The reason for the fine, according to Cameroon’s corruption board is the telecom companies’ failure to pay tax on games and gambling services.

According to Reuters, an extensive probe into the sector saw over $283 million (N57 billion) slammed on companies who were in violation of regulations including Camtel and Viettel.

The Cameroonian anti-corruption body, CONAC, in the report written stated that MTN and Orange also failed to pay taxes on their money transfer system, otherwise known as Mobile Money.

This fine further compounds MTN’s regulatory problems in Africa.

This came after Nigeria, in October last, slammed a whopping $5.2 billion, about N1.04 trillion, fine on the company for failing to disconnect unregistered users in accordance with a directive by the industry regulator, Nigerian Communications Commission (NCC), to that effect.

>TheStreetReporters.com is your BREAKING NEWS platform. Do you have Breaking news for us?
Call: 0817 504 7979
Or Email Us: news@streetreporters.ng
Follow Us on Twitter @streetreporters
Join Our Fans on Facebook: facebook.com/streetreporters.ng
Visit Our Website: www.StreetReporters.ng

This post has already been read at least426 times!