South African cable television provider, MultiChoice Group has disclosed that its subsidiaries have reached a settlement to pay the amount of $37.3 million as a tax settlement with the Nigerian government.
According to a report by Reuters, MultiChoice 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”.
In 2022, Nigeria’s tax body, the Federal Inland Revenue Service froze MultiChoice Nigeria’s accounts. It served MultiChoice Group with a N1.8 trillion ($1.27 billion) tax claim for its Nigerian operation and $342 million for value-added taxes.
The company owns DStv, GOtv, Showmax, M-Net, and SuperSport, and offers services to over 23.5 million households in 50 markets across sub-Saharan Africa.
