The Federal Inland Revenue Service (FIRS) has disclosed that it issued a mandate to banks over the freezing of the accounts of media entertainment firm, MultiChoice Africa and its Nigerian subsidiary in a move to recovery $4.4bn in outstanding tax obligations.
The service also stated that Multichoice is guilty of breaching agreements and denying access to their records for auditing, according to a statement issued by its Chairman, Mohammed Nami on Thursday.
“It was discovered that the companies persistently breached all agreements and undertakings with the Service, they would not promptly respond to correspondences, they lacked data integrity and are not transparent as they continually deny FIRS access to their records,” Nami said.
The FIRS Chairman also accused the companies of persistently breaching all agreements and undertakings with the service, stating that the group refused to respond to correspondences “and are not transparent as they deliberately refused to allow FIRS to access their important records”.
“Particularly, Multichoice Nigeria 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”, the statement added.
FIRS said the Nigerian subsidiary contributed the biggest share of revenue to the Multichoice group.
MultiChoice Group in South Africa said it would issue a statement soon.
Join the conversation
SPECIAL REPORT: Displaced residents of Zamfara battle hunger, as underfunding derails Nigeria’s nutrition goals
On paper, Muhammad Zayyanu is seven years old. The quiet boy who looks shorter for his age could not recollect...
INVESTIGATION: N7.3bn paid for unnamed projects; how Nigerian govt spent N2.2trn in six months
Analysing nearly 3,000 payments made by various Federal Government Ministries, Departments and Agencies (MDAs) over the previous six months (January...
INVESTIGATION… Delay rocks Nigerian govt’s promise of N30,000 covid-19 relief for artisans, others
Before the outbreak of the COVID-19 pandemic in February, 2020, Chukwudi Okoroigwe’s daily earnings as a bus driver was hardly enough to cater to the...
INVESTIGATION… Ten years after, communities count losses as AfDB, Cross River govt abandon road project
Ten years after the Cross River State government and African Development Bank (AFDB) jointly awarded the Yahe-Wanokom-Wanikade-Benue border road for...
INVESTIGATION….N.3bn down the drain: Why water projects for Enugu communities don’t work
In this concluding part, ARINZE CHIJIOKE talks about some of the projects that are serving the people and how various WASH programmes have failed to tackle...