FROZEN ACCOUNTS
Nigerian jinx strikes again in MultiChoice’s R63bn tax bill
Shares slump after banks asked to help recover about R63bn in tax that the revenue service says is owed by the group
08 July 2021 - 16:44
UPDATED 08 July 2021 - 23:14
In a stunning development that could add to perceptions that Nigeria is an unfriendly place for foreign capital, the country’s tax collection agency has ordered banks to freeze the accounts of MultiChoice to recover R63bn in alleged unpaid taxes.
The decision came after MultiChoice, which denied the allegations, refused authorities access to records for auditing, Nigeria’s Federal Inland Revenue Service (FIRS) said in a statement on Thursday...
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