Telecom giant MTN Uganda becomes top taxpayer in country: report

"We have always insisted on corporate governance, transparency and good planning to ensure our income keeps growing and hence higher taxes. We are going to invest more money in the network in order to expand to more areas in Uganda. We will also introduce new products which will help the country and the people to get better serviced".

MTN Uganda has emerged among the top taxpayers said Yoweri Kaguta Museveni, according to a report by Marcopolis.

Yoweri Kaguta Museveni the president of Uganda named MTN Uganda as the top taxpayer in his campaign tour in eastern Uganda. He praised the telecom giant for adding to the economic growth as he said "with the peace in the country, we have attracted foreign investors who have created jobs and also pay a lot of taxes".

Reportedly, with a standard annual return of Shs 701 b, MTN Uganda has been named by Museveni as the top taxpayer. Followed by other giants such as Airtel (Shs 500b), and the Bank of Uganda with (Shs 451b) MTN Uganda maintained to be on the top.

Being among the top taxpayers, Charles Mbire, MTN Uganda chairman said will keep upgrading its investment, and it will sustain its position in the market. He focused on transparency in business since he said that the taxes of Shs 701b including income tax is directly paid to Uganda Revenue Authority. "We have always insisted on corporate governance, transparency and good planning to ensure our income keeps growing and hence higher taxes. We are going to invest more money in the network in order to expand to more areas in Uganda. We will also introduce new products which will help the country and the people to get better serviced", Mbire added.

The telecom giant is the largest network in Uganda, it is the premium telecommunications network which provides a wide range of services and products. It deals with mobile phones, Internet, data bundles, digital money payments, voice calls, and other services. A subsidiary of MTN Group, the giant MTN Uganda connects an approx of 232 million people in 22 countries including African and the Middle East.