MultiChoice Resolves Nigeria Tax Problem
The Nigerian government has been pursuing South Africa’s MultiChoice for alleged multi-billion Rand unpaid tax duties on its pay-TV subscriptions in the county.
MultiChoice has always denied the full implications of the tax demand and now says it has reached an “amicable resolution” of the taxation matters.
“In broad of agreement,” says a statement, “MultiChoice will withdraw all pending lawsuits, and [Nigeria’s Federal Inland Revenue Service] resumed a forensic systems audit of MultiChoice accounts on Tuesday, 8 March to determine the tax liability of the company.”
“With the agreement and the resumption of the forensic systems audit, it is anticipated that the matters will be resolved expeditiously and shareholders will be kept informed of progress in this regard,” states MultiChoice.