MultiChoice Group has reached a settlement with the Federal Inland Revenue Service (FIRS), agreeing to pay N35.4 billion to fulfill its tax obligations.
MultiChoice, renowned for its flagship satellite television services DStv and GOtv, disclosed this decision in a statement addressed to shareholders on Thursday. The payment, earmarked to offset “security deposits,” underscores the company’s commitment to compliance with Nigerian tax regulations.
“Shareholders are advised that MultiChoice has reached a settlement with the FIRS in Nigeria in relation to the tax assessments raised in April 2021 on MultiChoice Nigeria (MCN) and in June 2021 on MultiChoice Africa Holdings BV (MAH),” the company stated.
This resolution follows assessments made by the FIRS on MultiChoice Nigeria and MultiChoice Africa Holdings BV earlier in 2021. With this agreement, MultiChoice Group aims to bring closure to the tax dispute and reaffirm its dedication to operating within the framework of Nigerian tax laws.