MultiChoice Group, Africa’s leading Movies and Media Network has come out to say they have agreed with Tax Authorities on Thursday to remit a total amount of $37.3 million.
This is coming after the Federal Inland Revenue Service (FIRS) blocked the Group’s financial accounts 2 years ago for tax evasion, asking the company to pay $1.27 billion with $342 million for added values.
Recall in 2021 when Muhammad Nami, Executive Chairman, FIRS, at the time, came out openly to slam the company and explain the reason for freezing their accounts, saying they lacked integrity as they always hid their records from the FIRS. He went ahead to say the Group and its subsidiaries are always involved in tax fraud;
“Particularly, MCN has avoided giving the FIRS accurate information on the number of its subscribers and income.
The companies are involved in the under-remittance of taxes which necessitated a critical review of the tax-compliance level of the company,”
Mr Nami said
In a statement released by the group, an amount of 35.4 billion naira will be paid by MultiChoice Nigeria and MultiChoice Africa Holdings as compensation.
