The South African Minister of International Relations and Cooperation, Dr. Naledi Pandor is encouraging MTN to work closely with the authorities in Ghana to devise a solution to the existing tax liability dispute.
The Minister in a statement regretted the impact the dispute has had.
“These unfavourable conditions have led to disinvestment in some African markets by major South African companies such as Shoprite, Game, Mr. Price, Foschini, Woolworths, Tiger Brands, Sasol- Chemicals, Sasol-Gas, Group Five, Murray and Roberts, Metrolife Group, Telkom, Southern Sun, Protea Group, to name but a few.”
“The disinvestment has had a devastating impact on employment opportunities, poverty and inequalities in particular, and GDP growth in general. The Minister called on the parties involved to do everything possible to find an amicable solution to these reported challenges.”
“Our common destiny as outlined in the Agenda 2063 aspirations depends on win-win intra-African collaboration and cooperation. The South African government is committed to promoting increased South African investment in Ghana in particular and the continent in general,” the Minister added.
The Minister has previously held meetings with Chief Executive Officers of South African companies invested in and operating on the African continent.
“They have reported an increasing number of difficulties ranging from unfavourable market conditions and inconsistent regulatory frameworks, inconsistent tax regimes, repatriation of funds, and delays in loan repayments. Of major concern is that competitors of South African companies from other parts of the world do not appear to be subjected to the challenges that South African companies are subjected to.”
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