Rédaction Africa Links 24 with Kehinde Akintola
Published on 2024-02-28 18:21:16
The House of Representatives convened on Wednesday and made a decision to launch a swift and thorough investigation into the failure of the South Africa Entertainment Company, Multichoice Group, to remit tax revenue totaling N1.8 trillion and $342 million. In addition to this, the House tasked its Committee on Communication to explain why Nigerian subscribers are not offered a ‘pay as you go’ package by Multichoice, as is the practice in other countries. These resolutions were put forth following a motion introduced by Hon. Saidu Abdullahi, Deputy Chairman of the House Committee on Finance, who expressed concern over the disregard for the law shown by certain foreign corporations through tax evasion.
During the debate led by Hon. Abdullahi, it was noted that the Federal Inland Revenue Service (FIRS) was set up in 2007 to collect revenue on behalf of the government and that the National Assembly has the authority to investigate matters of corruption and inefficiency. Multichoice, a multinational corporation in Nigeria, has been accused of withholding tax revenue owed to the government, as uncovered through audits conducted by FIRS.
The House acknowledged the dire financial challenges facing the Nigerian economy and the importance of recovering the unpaid taxes from Multichoice. Despite previous attempts to resolve the issue through legal channels, the outstanding amounts of over N1.8 trillion and $342 million remain unpaid. The potential sale of Multichoice Nigeria and its subsidiaries to foreign entities adds to the urgency of recovering these tax revenues to prevent further economic strain.
Recognizing its duty to promote transparency and accountability in financial matters, the House emphasized the need for a comprehensive investigation into Multichoice’s non-remittance of tax revenue. Buyers interested in acquiring Multichoice assets in Nigeria were warned about the outstanding tax liabilities associated with the company. Consequently, the House instructed the Information Committee to promptly conduct an investigation into the tax non-compliance of Multichoice and submit a report within four weeks.
In conclusion, the House of Representatives is committed to upholding the rule of law and safeguarding the interests of the Nigerian people by ensuring that all entities, including foreign corporations, fulfill their tax obligations. The urgent need to recover the substantial amount of unpaid taxes from Multichoice Group highlights the importance of conducting a thorough investigation and taking appropriate action to address the issue.
Read the original article on Nigerian Tribune
