MultiChoice Consents To Pay $37 Million Taxes In Nigeria
The MultiChoice Group has committed to paying FIRS N35.4 billion in order to resolve tax assessments that were brought up in June 2021 for MultiChoice Africa Holdings BV (MAH) and April 2021 for MultiChoice Nigeria (MCN).
The Nigerian Federal Inland Revenue Service has filed a claim for back taxes, and MultiChoice must pay them €23 million in order to satisfy the tax authorities.
The sum is related to tax assessments that MultiChoice Africa Holdings and MultiChoice Nigeria filed in June and April of 2021, respectively.
“The parties (FIRS, MultiChoice Nigeria, and MultiChoice Africa) concluded a 'without prejudice or precedent agreement in full and final settlement of all matters in dispute,” MultiChoice said in a statement.
The required amount for settlement has decreased by several million Rand due to the unstable exchange rate between the South African Rand and the Nigerian Naira.
MultiChoice first announced that it had agreed a settlement with FIRS in March 2022. It followed the Nigerian tax authorities freezing MultiChoice's bank accounts in July 2021 after it alleged it had not paid since its launch in the country.
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