Singapore and Nigeria Sign Agreement for Avoidance of Double Taxation03 Aug 2017
1. Singapore signed an Agreement for the Avoidance of Double Taxation (DTA) with the Federal Republic of Nigeria on 02 August 2017.
2. The signing took place in Nigeria between Senior Minister of State for Trade and Industry Dr Koh Poh Koon and Nigeria’s Minister of Finance Mrs Kemi Adeosun.
3. The DTA clarifies the taxing rights of both countries on all forms of income flows arising from cross-border business activities, and minimises the double taxation of such income. This will lower barriers to cross-border investment and boost trade and economic flows between the two countries.
4. The full text of the Singapore-Nigeria DTA is available on the Inland Revenue Authority of Singapore’s website. The DTA will enter into force after its ratification by both countries.
MINISTRY OF FINANCE
03 August 2017