MTN Ghana CEO, Ebenezer Twum Asante is appealing to government to wave the five per cent national fiscal stabilization levy (NFSL) because it has outlived its purpose and it is hurting the affected corporate institutions.

Government introduced the NFSL on July 15, 2013 to help reduce Ghana’s growing deficit. It was pegged at five per cent of the accounting profits of specified companies and institution.

The categories of companies selected to pay this special tax include telecom service providers, banks,  (excluding rural and community banks) non-banking financial institutions, insurance companies, breweries, inspection and valuation companies, companies providing mining support services, as well as shipping lines, maritime and airport terminals

It was to last for 18 months, ending January, 2015, but this is April 2016 and tax is still around and government is not showing any signs of removing it.

The MTN boss noted that at the time the NFSL was introduced, the selected organizations were happy to pay it because it was to help stabilize the economy.

He noted that on two previous occasions, the issue of waving it was mentioned in the president's state of the nation address but no action was taken and so the affected companies continue to pay.

"But we continue to do so at the expense of our own reinvestments and payment of dividends to our shareholders so we believe it is time for government to start a discussion on how to wave it," he said.

Ebenezer Asante said the NFSL has overrun the period set for it to last for, and because the affected companies did to expect it to go beyond 18 months, it is now beginning to impact plans for expansion and more reinvestments.

He said "we are not asking government to wave it immediately but it should be in government's plan to wave it latest by 2017 so that we can go back to our mandatory taxes, duties and levies which are we very happy to continue paying."

The MTN boss said telcos will continue to engage government on the matter to ensure what is best for the country.

Speaking of investments, MTN has earmarked some US$96million for infrastructural investment this year alone. And this include US$12million for rural telephony infrastructure and US$18million for deployment of its 4G LTE network.

The company invested a whopping US$67.5million to acquire the 4G spectrum and it has already installed some 60 4G masts across four regions and is now doing test run ahead of a commercial launch third quarter this year.

MTN was recently adjudged best corporate taxpayer by the Ghana Revenue Authority.