MultiChoice Africa Holdings will appeal a Nigerian tax tribunal judgment ordering the South African pay-TV firm to pay R5.2-billion in value-added taxes.
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A Nigerian tax tribunal has cleared MultiChoice Group to appeal a disputed U$4.4 billion tax bill in the country, according to people familiar with the case.
MultiChoice Group said on Thursday that it doesn’t believe it has to pay R32.8-billion to Nigeria’s tax authority – being half of a disputed outstanding tax amount – and that a “substantially” lesser amount is owed.
The deposit of 50% of the sum was a condition that had to be fulfilled by Multichoice Nigeria before a tribunal could hear a full appeal on the matter, the Nigerian tax authority said.
One could be forgiven for thinking that the Nigerian authorities are acting opportunistically, if reports of a massive penalty by the Nigerian Federal Inland Revenue Service against MultiChoice are true.
Nigeria’s revenue service said on Thursday it had instructed banks to freeze the accounts of media entertainment firm MultiChoice Africa and its Nigerian subsidiary.