DStv and Showmax owner MultiChoice announced on Thursday it has reached agreement with Nigerian authorities on its long-running tax dispute, agreeing to pay 35.4 billion Nigerian naira or $37.3 million (the latter about R705 million).
The agreement will be set off against deposits and good faith payments made to date, with the media group saying deal is without "prejudice or precedent," which refers to an agreement aimed at solving a dispute without an admission of guilt.
The company, which provides digital satellite services, had challenged the Nigerian Federal Inland Revenue Service (FIRS) over a tax claim after the FIRS accused it of skipping taxes and denying auditors access to its servers.