MultiChoice Group has settled a tax dispute in Nigeria, with the South African-listed pay-television operator to hand over a total of US$37.5-million (R709-million).
The settlement amount is far below the sum that had been sought by Nigeria’s tax authorities.
Nigeria’s Federal Inland Revenue Service froze MultiChoice Nigeria’s accounts in 2022 and served MultiChoice Group with a ₦1.8-trillion (R24-billion) tax claim for its Nigeria operation and a R6.5-billion claim for VAT.
The group said in a statement the total tax amount of ₦35.4-billion will be paid by MultiChoice Nigeria and MultiChoice Africa Holdings, to be offset against “security deposits and good faith payments made to date”. — Nqobile Dludla, © 2024 Reuters, with additional reporting
