Again, with growing concerns stemming from the fear of double taxation from the income of Nigerians in the diaspora, the Nigerian government have a Double Tax Agreement treaty with foreign countries to protect citizens and businesses.
With a lot of concerns, which are primarily driven by the public’s non-comprehension of its workings, Nigerians continue to raise serious questions.
According to the Federal Inland Revenue Service, a DTA treaty is a formal and written agreement between sovereign states or between states and international organisations.
The type of tax treaty within the purview of the Federal Inland Revenue Service (FIRS) and domiciled in the Tax Policy and Legislation Department is the Avoidance of Double Taxation Agreement (ADTA).
Tabular Presentation of List of Countries having ADTA with Nigeria:
Country Type Date of Entry into Force Effective date
Italy Air and Shipping Transport Agreement Only 22nd February 1977 1st January 1968
United Kingdom Full DTA 1st January 1988 1st January 1989
Belgium Full DTA 1st January 1990 1st January 1991
Pakistan Full DTA 7th March 1990 1st January 1991
Czech Full DTA 2nd December 1990 1st January 1991
Slovakia Full DTA 2nd December 1990 1st January 1991
France Full DTA 2nd May 19911 1st January 1992
Netherlands Full DTA 9th December 1992 1st January 1993
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Romania Full DTA 18th April 1993 1st January 1994
Canada Full DTA 16th November 1999 1st January 2000
South Africa Full DTA 5th July 2008 1st January 2009
China Full DTA 21st March 2009 1st January 2010
Sweden Full DTA 7th December 2014 1st January 2015
Spain Full DTA 5th June 2015 1st January 2016
Singapore Full DTA 1st November 2018 1st January 2019
TVC previously reported that the controversy surrounding the new tax law, which is primarily driven by public non-comprehension of its workings, has led Nigerians to continue to raise serious questions.
With a spotlight on the Nigerians and businesses in the diaspora, severe concerns have arisen from the fear of double taxation on income.
The Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, Taiwo Oyedele, has addressed and dismissed the growing concerns that income will face double taxation, by both Nigeria and the taxpayer’s country of residence.
