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Multichoice Loses Appeal on $342m Tax to FIRS
The long-drawn legal battle by the South African Company, Multichoice Africa Holdings B.V, with the Nigerian government-owned Federal Inland Revenue Services (FIRS) over the disputed $342 million tax has been struck out.
The Tax Appeal Tribunal, on Tuesday, struck out the appeal by the company for want of diligent prosecution and ordered It to pay up the $342 million tax assessment handed over to It by the FIRS.
Multichoice Africa Holdings is the parent company of Multichoice Nigeria and has engaged FIRS in court to challenge the assessment of the FIRS on it of unpaid Value Added Tax (VAT) amounting to over $123.7 million.
The Tribunal while delivering its judgment on the appeal filed by the company upheld the preliminary objection of the FIRS against the appeal of Multichoice Africa Holdings B.V and stated that the South African company did not comply with Order 3 Rule 6 of the Tax Appeal Tribunal (Procedure) Rules, 2021, which requires that an appellant is to deposit half of the assessed amount it is disputing before it can be heard on appeal.
In addition to depositing the sum, the appellant is required to file along with its appeal an affidavit verifying the payment which the company also failed to comply with.
According to the Tribunal, the sum is to be paid as a security for the hearing of any tax appeal. The rule states that “for an appeal against the tax authority, the aggrieved person will pay 50 per cent of the disputed amount into designated account by the Tribunal before hearing as security for prosecuting the appeal.”
FIRS had served a notice of unpaid VAT on Multichoice Africa Holdings B.V. but the company challenged the assessment and filed an appeal at the tribunal.
It however failed to comply with provisions of tax laws by the refusal to make the required deposit as stipulated by the Tribunal Rules.
It will be recalled that the FIRS had served Multichoice Africa Holdings B.V. a notice of assessment of unpaid VAT on the 16th of June 2021.
The company had consequently appealed the assessment at the Tax Appeal Tribunal on the ground of being too excessive.
Multichoice Africa Holdings, the parent company of Multichoice Nigeria, though providing services to its Nigerian arm was said not to have paid Value Added Tax since inception.
Broadcasting
Big Larry, Nollywood Actor is Dead
Big Larry, a popular Nollywood actor has been pronounced dead on Friday by Stanley Ontop, film producer
Details’ surrounding his sudden demise is yet to be known.
Big Larry’s death comes just a few weeks after the passing of another Nollywood actress, Sharon Okpamen, who died following childbirth.
Stanley Ontop his on Instagram wrote: “Breaking News: Nollywood actor Big Lary just passed away. Je nke Oma big. What caused his demise is yet to be ascertained. May your soul rest in peace Big Lary. Nollywood Asaba Mourns. Shalom!!!”
Fans and admirers of the late actor have flocked to the post’s comment section to pay tribute to him.
Broadcasting
CADEF Promotes Financial Inclusion for Persons with Disabilities @One-day Workshop
Consumer Advocacy & Empowerment Foundation (CADEF) hosted a one-day workshop on “Improving Access and Inclusion for Persons with Disabilities (PWDs) in Digital Financing” in Lagos.
The event brought together government officials, financial institutions, disability organizations, and experts to discuss strategies for enhancing financial inclusion for people with disabilities.
Speaking at the workshop, Safiu Babatunde, Head of Legal Services at the Lagos State Office for Disability Affairs, emphasized the importance of financial inclusion for people with disabilities.
He highlighted the challenges faced by individuals with disabilities in accessing traditional and digital financial services and called for innovative solutions to address these barriers.
“Disability related obstacles affect the participation of individuals at every stage of developmental interventions intended to boost livelihoods of people,” Babatunde said.
“Key among the resources essential for enhancing the livelihood of individuals is having access to financial resources for undertaking economic activities.”
He continued, “Unfortunately over the years, traditional banks do not seem to have served people with disability related obstacles.
“Persons with disability have limited access to financial services, including traditional and alternative banking, online payment services, and financial transactions as well as mobile banking applications.”
Babatunde emphasized the need for public-private partnerships to promote financial inclusion for people with disabilities.
“This partnership can bring together government agencies, financial institutions, and disability organizations to collaborate on developing and implementing initiatives that promote financial inclusion for these concerned populations,” he said.
Professor Chiso Ndukwe-Okafor, Executive Director of CADEF, underscored the organization’s commitment to advocating for the rights of marginalized groups.
She emphasized the need for inclusive financial products and services that cater to the specific needs of people with disabilities.
“CADEF has been empowering individuals with financial literacy, including those with disabilities.
“Our goal is to create inclusive financial systems that meet the needs of all Nigerians”, she said.
The Lagos State Office for Disability Affairs, LASODA, also called for increased public-private collaboration to address the financial barriers faced by PWDs.
General Manager of LASODA, Adenike Oyetunde-Lawal, emphasized the need for tailored financial products and accessible services.
Oyetunde-Lawal, who was represented by Mr. Safiu Babatunde, Head of the Legal Department, urged the banking sector to be more responsive to the needs of PWDs.
Participants discussed the challenges faced by people with disabilities in accessing financial services, such as limited awareness of available products, inaccessible ATMs and branches, and discriminatory practices.
They also explored potential solutions, including the development of accessible mobile banking applications, financial education programs in sign language and Braille, and partnerships with disability organizations.
At the conclusion of the workshop, participants agreed on the need for concerted efforts to improve financial inclusion for people with disabilities.
They pledged to work together to develop and implement practical solutions that will empower individuals with disabilities to participate fully in the financial sector.
Broadcasting
NIPR Appoints Rasheed Bolarinwa As Chairman of FinanceHub Committee
Nigerian Institute of Public Relation’s (NIPR) governing council has announced the appointment of Rasheed Bolarinwa as the Chairman of its newly established FinanceHub Committee.
Bolarinwa, who serves as the President of the Association of Communication and Marketing Professionals in Banks (ACAMB), will lead the committee aimed at enhancing sustainable Public Relations practices within the banking, insurance, and pensions sectors.
Bolarinwa, currently the Head of Brand Management and Corporate Communication at Polaris Bank, brings extensive experience from journalism, public relations, and the financial sector.
Read Also: NIPR Lagos Chapter Announces Date for 11th conference, sets to discuss climate change, environment
His leadership is expected to drive significant improvements in PR practices across these financial sectors.
The FinanceHub Committee, which includes experts from banking, insurance, and pensions, is part of NIPR’s broader initiative to strengthen public relations across various sectors.
The committee’s formation aligns with NIPR’s strategy to foster sustainable and impactful PR practices in these critical areas of the economy.
In addition to Bolarinwa, NIPR has appointed other chairpersons for newly created sectoral hubs.
Mrs. Thelma Okoh will lead the Maritime Hub, Dr. Jossy Nkwocha will head the Energy Hub, and Mr. Basil Agboarumi will oversee the Aviation Hub. Dr. Ahmad Sajoh has been appointed to lead the Anti-Corruption and Consumer Protection Hub, while Miss Chimdi Neliaku will head the Young Practitioners Hub.
The appointment letters, signed by Uzoma Onyegbadue, Registrar/Secretary to the NIPR Governing Council, reflect NIPR’s commitment to enhancing public relations practices across these sectors.
NIPR Appoints Rasheed Bolarinwa as Chairman of FinanceHub Committee
At the inauguration of the new chairpersons and committee members, NIPR National President Dr. Ike Neliaku praised the appointees, highlighting their expertise and dedication.
“Your appointments are well-considered and reflect the confidence the NIPR council has in your abilities to advance the objectives of the Hub,” Neliaku stated.
He expressed enthusiasm for collaborating with the new appointees and emphasized the council’s support in driving positive change in public relations practices within their respective sectors.
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