GTH finishes paying USD 136 mn settlement to Tax Authority

DISPUTE WATCH- GTH finishes paying USD 136 mn settlement to Tax Authority: The dispute between Global Telecom Holding (GTH) and the Tax Authority finally came to a close yesterday after GTH finished paying its USD 136 mn tax settlement, the authority said in a statement picked up by Mubasher. GTH paid USD 82.3 mn to the authority yesterday to settle the dispute, after making an initial payment of USD 53.7 mn. GTH signed in June the USD 136 mn settlement agreement, ending a long-running dispute that had prevented Veon from acquiring it. The settlement covered tax liabilities accumulated by GTH and its subsidiaries between 2000 and 2018. Veon last month completed a mandatory tender offer, taking GTH private.