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Nigeria, Multichoice in $5.5- billion tax dispute

Nigeria, Multichoice in $5.5- billion tax dispute

CAMILLUS EBOH NIGERIA’S revenue service has told banks to freeze the accounts of units of pay-TV group MultiChoice to recover $4.4 billion, in the latest tax dispute between a South African-based company and Nigerian authorities. Nigeria's Federal Inland Revenue Service (FIRS) said it had instructed banks to freeze the accounts of MultiChoice Africa and its Nigerian subsidiary for breaching agreements and denying access to records for auditing. Shares in MultiChoice, which denied the accusations and said the issue could be resolved amicably, fell more than 5% in Johannesburg. The case follows another dispute in 2018 involving South African mobile operator…
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