Analysing the treaty making process in Nigeria – Focus on the Double Tax Treaty with Singapore
President Muhammadu Buhari, on Monday 26 March 2018, signed the instrument of ratification of agreement with Singapore against double taxation and fiscal evasion. The President’s assent is pursuant to the approval of the double taxation treaty (DTT) between Nigeria and Singapore on 16 November 2016 by the Federal Executive Council (FEC) and subsequent signature of the DTT by the Federal Government of Nigeria on 2 August 2017.
Nigeria signs double tax treaty with Spain into law
President Muhammadu Buhari, on Friday, 26 January 2018 assented to the Avoidance of Double Taxation Agreement between the Federal Republic of Nigeria and the Kingdom of Spain (Domestication and Enforcement) Act, 2018. The double tax agreement (DTA) between Nigeria and Spain had been awaiting ratification by the legislature for about nine years. The legislature commenced the process of ratifying the DTA with Spain in 2016, in line with the provisions of Section 12(1) of the Nigerian Constitution which precludes treaties from having the force of law until they have been enacted by the National Assembly. The ratified DTA was recently forwarded to the Executive for final assent. The Presidential assent of the DTA with Spain is a welcomed development given that there are quite a number of signed DTAs between Nigeria and other trade partners which are still pending ratification. It is expected that the DTA between Nigeria and Spain…
Nigeria signs double tax agreement with Singapore
Pursuant to the approval given by the Federal Executive Council in 2016, the Federal Government of Nigeria signed a double taxation treaty (DTT) with the government of Singapore on Wednesday, 2 August 2017. The DTT is aimed at eliminating or providing relief for double taxation on income of companies and individuals that are resident in either country.