Tax Dispute: MultiChoice to Pay $37.3m to FIRS
The owner of DSTV and GOTV, MultiChoice, has agreed to pay about $37.3 million after front-and-back discussions over tax payment disputes in Nigeria.
Recall that in 2022, the Federal Inland Revenue Services (FIRS) froze MultiChoice Nigeria’s accounts and served the company with a N1.8 trillion tax claim for its Nigerian operation and a $342 million claim for VAT.
Pan-African Television broadcaster MultiChoice Group has disclosed that its subsidiaries have reached a settlement with Nigerian tax authorities and have agreed to pay a total tax of about $37.3 million.
According to a report by Reuters, the broadcaster said, “The total tax amount of $35.4 billion which MultiChoice Nigeria and MultiChoice Africa Holdings will pay will be offset against the security deposits and good faith payments made to date.”
In 2022, Nigeria’s tax governing body, the Federal Inland Revenue Service (FIRS) froze MultiChoice Nigeria’s accounts and served MultiChoice Group with a N1.8 trillion ($1.27 billion) tax claim for its Nigerian operation and a $342 million claim for value-added taxes.
The broadcaster owns DStv, GOtv, Showmax, M-Net, SuperSport, Irdeto, and KingMakers and offers services to over 23.5 million households in 50 markets across sub-Saharan Africa.
Nigeria’s Federal Inland Revenue Service (FIRS) froze MultiChoice Nigeria’s accounts in 2022 and served MultiChoice Group with a N1.8 trillion ($1.27 billion) tax claim for its Nigerian operation and a $342 million claim for value-added taxes.
The entertainment platform in Africa offers products and services, including DStv, GOtv, Showmax, M-Net, SuperSport, Irdeto, and KingMakers for over 23.5 million households in 50 markets across sub-Saharan Africa.
According to the company, MultiChoice Nigeria launched in 1993 as a joint venture between MultiChoice Africa and Adewunmi Ogunsanya (SAN). According to the company, the MultiChoice supply value chain comprises more than 12,000 dealers, retailers, installers, sales agents and Sabimen. #Tax Dispute: MultiChoice to Pay $37.3m to FIRS#
