MultiChoice Nigeria has responded to the Tax Appeal Tribunal Appeal Hearing on August 24, 2021.
In a media statement on Wednesday, August 25, MultiChoice Nigeria noted that the media statement on the Tax Appeal Tribunal (“TAT”) appeal hearing was held on August 24, 2021.
“The direction issued by the TAT does not compel MultiChoice Nigeria to make payment of 50% of N1,8 Trillion, being half of the disputed tax assessment which is under appeal,” the statement began.
Continuing, MultiChoice noted, “The direction issued by the TAT in accordance with paragraph 15(7) of the Fifth Schedule to the FIRS Establishment Act requires MultiChoice Nigeria to deposit with FIRS an amount equal to the tax paid by MultiChoice Nigeria in the preceding year of assessment OR one half of the disputed tax assessment under appeal, whichever is the lesser amount plus 10%. The lesser amount is the tax paid by MultiChoice Nigeria in the previous assessed year which is substantially less than the disputed assessment.
MultiChoice Nigeria is a law-abiding corporate citizen and continues to engage constructively with FIRS in an attempt to resolve this matter.”