Federal Inland Revenue Service Freeze Multichoice Accounts Over ₦1.8tn Tax
Jul 9, 2021 ·
5m 27s
The Federal Inland Revenue Service has directed commercial banks in the country to freeze the accounts of Multichoice Nigeria Limited and Multichoice Africa, in a bid to recover about ₦1.8...
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The Federal Inland Revenue Service has directed commercial banks in the country to freeze the accounts of Multichoice Nigeria Limited and Multichoice Africa, in a bid to recover about ₦1.8 trillion outstanding taxes.
FIRS spokesman, Abdullahi Ahmad in a statement says FIRS discovered that the companies persistently breached all agreements, while the groups’ performance did not reflect in their tax obligations and compliance level in the country.
FIRS further explained that multi-choice Africa, which provides services to its Nigerian subsidiary had never paid value-added-tax to the Nigerian government since its inception, even as the country contributes 34 per cent of total revenue for the multichoice group.
They said the decision to appoint the banks as agents and to freeze the accounts was due to the groups’ continued refusal to grant FIRS access to their servers for audit.
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FIRS spokesman, Abdullahi Ahmad in a statement says FIRS discovered that the companies persistently breached all agreements, while the groups’ performance did not reflect in their tax obligations and compliance level in the country.
FIRS further explained that multi-choice Africa, which provides services to its Nigerian subsidiary had never paid value-added-tax to the Nigerian government since its inception, even as the country contributes 34 per cent of total revenue for the multichoice group.
They said the decision to appoint the banks as agents and to freeze the accounts was due to the groups’ continued refusal to grant FIRS access to their servers for audit.
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