Taxman claims Tidal Music for 14 million in back taxes
The Tax Office has registered a claim of more than NOK 14 million against the streaming service Tidal Music. The streaming software is developed in Norway.
The tax authorities do not want to comment on individual cases, but confirm the sum, writes Dagens Næringsliv.
– I can confirm that claims of NOK 14.119.080 against Tidal Music AS are correct, writes Cathrine Sjong Bakken in an email. Bakken is Deputy Director for Billing in Tax East.
It is not clear what is behind the tax claim. The Aspiro group, where Tidal constitute almost the entire operation, are losing money and will have large losses carried forward.
The subsidiary Tidal Music AS, which has received the claim, has the lion’s share of the proceeds in Tidal and about 90 employees, but also there the losses are large.
The company has not answered the newspaper’s queries on the matter.
Third boss fired
Trade publication Billboard reported on Friday that CEO Jeff Toiger finished in Tidal and that the appointment of a new boss is imminent. In January last year, Toig became the third boss in Tidal after Jay Z’s acquisition of the service in the spring of 2015.
Tidal has lost money every year, and the deficits have increased after the acquisition, which the hip-hop mogul made with backing the of 15 other superstars of music.
© NTB Scanpix / Norway Today