MultiChoice to pay $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 $37.3 million.

MultiChoice Group share price over 12 months

Nigeria’s Federal Inland Revenue Service (FIRS) froze MultiChoice Nigeria’s accounts in 2022. It served MultiChoice Group with a 1.8 trillion naira ($1.27 billion) tax claim for its Nigeria operation and a $342 million claim for value-added taxes.

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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.

Read the Sens.

William Murphy

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