• Friday, April 19, 2024
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FIRS, MultiChoice Nigeria agree to resolve tax dispute

FIRS, MultiChoice Nigeria agree to resolve tax dispute

After a series of lawsuits, the Federal Inland Revenue Service (FIRS) and pay television service provider, MultiChoice Nigeria, have agreed to an amicable resolution of their pending tax disputes.

Both parties announced the agreement in a joint press release issued on Wednesday in Abuja.

“By the broad terms of the agreement, MultiChoice shall withdraw all pending lawsuits towards an amicable resolution of the dispute,” the press release signed by Multichoice read.

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“Also, as part of the agreement, the FIRS commenced a Forensic Systems Audit of MultiChoice accounts on Tuesday, 8 March, 2022 to determine the tax liability of the Company.”

In April 2021, the FIRS issued Notices of Assessment and Demand Notices in the sum of N1.82 trillion on the Company.

MultiChoice, which disputed the assessments, approached the Tax Appeal Tribunal (TAT). This development led to a series of cases at both the TAT and the Federal High Court.

According to both parties, the agreement and the resumption of the Forensic Systems Audit means that the dispute will be resolved very soon.