Welcome To Ghana's No.1 Entertainment Hub
FIRS hires banks to recover N1.8T from DSTV - Ladun Liadi's Blog

FIRS hires banks to recover N1.8T from DSTV – Ladun Liadi’s Blog

The Federal Inland Revenue Service (FIRS) has engaged some commercial banks as agents to freeze and recover N1.8 trillion from accounts of Messrs MultiChoice Nigeria Limited (MCN) And MultiChoice Africa (MCA), owners of DSTV.

Mr Abdullahi Ahmad, FIRS Director, Communications and Liaison Department said the decision to appoint the banks as agents and to freeze the accounts followed the groups’ continued refusal to grant FIRS access to their servers for audit.

FIRS said it discovered that the companies persistently breached all agreements and undertakings with the Service.

The Executive Chairman FIRS, Mr Muhammad Nami, was quoted as saying, “the companies would not promptly respond to correspondences, they lacked data integrity and are not transparent as they continually deny FIRS access to their records.

“Particularly, 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” Nami stated.

The service added that the groups’ performance did not reflect in their tax obligations and compliance level in the country.

FIRS further noted that the level of non-compliance by Multi-Choice Africa (MCA), the parent Company MCN was very alarming adding that the parent company, which provided services to MCN had never paid Value Added Tax (VAT) since its inception.

“The issue with Tax collection in Nigeria, especially from foreign-based Companies conducting businesses in Nigeria and making massive profits is frustrating and infuriating to the FIRS.

“Regrettably, Companies come into Nigeria just to infringe on our tax laws by indulging in tax evasion. There is no doubt that broadcasting, telecommunications and the cable-satellite industries have changed the face of communication in Nigeria.

Source: CelebritiesBuzzGh.Com | FIRS hires banks to recover N1.8T from DSTV – Ladun Liadi’s Blog

Send Us Story Tip-offs At [email protected]