MultiChoice, the company that owns DSTV and GOTV, has decided to pay around $37.3 million following back-and-forth negotiations on tax payment problems in Nigeria.
Remember that in 2022, MultiChoice Nigeria’s accounts were frozen by the Federal Inland Revenue Services (FIRS), who also sent the business a $342 million VAT demand in addition to a N1.8 trillion tax claim for its operations in Nigeria.
MultiChoice Group, a pan-African television broadcaster, has revealed that its businesses have settled with Nigerian tax authorities and agreed to pay around $37.3 million in taxes overall.
According to a report by Reuters, the broadcaster said, “The total tax amount of $35.4 billion which MultiChoice Nigeria and MultiChoice Africa Holdings will pay will be offset against the security deposits and good faith payments made to date.”
The Federal Inland Revenue Service (FIRS), Nigeria’s tax authority, froze MultiChoice Nigeria’s accounts in 2022 and filed a $342 million value-added tax claim together with a N1.8 trillion ($1.27 billion) tax demand for MultiChoice Group’s Nigerian operations.
The broadcaster provides services to over 23.5 million homes in 50 markets in sub-Saharan Africa and is the owner of DStv, GOtv, Showmax, M-Net, SuperSport, Irdeto, and KingMakers.
In 2022, MultiChoice Nigeria’s accounts were frozen by Nigeria’s Federal Inland Revenue Service (FIRS), which also issued MultiChoice Group with a $342 million value-added tax demand and a N1.8 trillion ($1.27 billion) tax claim for its Nigerian company.
The entertainment platform in Africa offers products and services, including DStv, GOtv, Showmax, M-Net, SuperSport, Irdeto, and KingMakers for over 23.5 million households in 50 markets across sub-Saharan Africa.
According to the company, MultiChoice Nigeria launched in 1993 as a joint venture between MultiChoice Africa and Adewunmi Ogunsanya (SAN). According to the company, the MultiChoice supply value chain comprises more than 12,000 dealers, retailers, installers, sales agents and Sabimen.
