MultiChoice will pay settlement of $37.3m to Nigerian tax authorities

Africa's biggest pay TV company MultiChoice Group said on Thursday its subsidiaries have reached a settlement with Nigerian tax authorities and agreed to pay a total tax amount of about $37.3m.

Nigeria's Federal Inland Revenue Service (FIRS) froze MultiChoice Nigeria's accounts in 2022 and served MultiChoice Group with a $1.27bn tax claim for its Nigeria operation and a $342m claim for value-added taxes.

A MultiChoice logo is displayed outside the company's building in Cape Town, South Africa. Source: Reuters.
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The group said in a statement the total tax amount of 35.4 billion naira to be paid by MultiChoice Nigeria and MultiChoice Africa Holdings will be offset against the security deposits and good faith payments made to date.

Source: Reuters

Reuters, the news and media division of Thomson Reuters, is the world's largest multimedia news provider, reaching billions of people worldwide every day.

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