FIRS Directs Banks To Freeze Multichoice Accounts Over N1.8trn Tax Liability

 FIRS Directs Banks To Freeze Multichoice Accounts Over N1.8trn Tax Liability

FIRS Directs Banks To Freeze Multichoice Accounts Over N1.8trn Tax Liability

The Federal Inland Revenue Service, FIRS, has appointed some commercial banks as agents to recover the sum of N1.8trn from accounts of MultiChoice Nigeria Limited (MCN) And MultiChoice Africa (MCA).

This was contained in a statement signed by the Executive Chairman, Muhammad Nami, and released on Thursday.

The statement confirmed that the decision to appoint the banks as agents and to freeze the accounts was as a result of the group’s continued refusal to grant FIRS access to its servers for audit.

It was discovered that the companies persistently breached all agreements and undertakings with the Service.

The FIRS stated that the companies have failed to promptly respond to correspondences, they lack data integrity and are not transparent as they continually deny FIRS access to their records.

Particularly, it said MCN 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.

Related post

Leave a Reply

Your email address will not be published. Required fields are marked *