BILATERAL AGREEMENT AVOIDANCE DOUBLE TAXATION NIGERIA AND SINGAPORE

What Is This Policy?

A bilateral tax treaty between Nigeria and Singapore to eliminate double taxation, promote investment flows, and provide tax certainty for businesses and individuals.

Who Does It Target?

Nigerian and Singaporean businesses, investors, and individuals with cross-border income.

What Does It Aim to Achieve?

Eliminate double taxation, attract Singaporean investment to Nigeria, and facilitate trade between both countries.

Key Features

Double Tax Relief: Prevents same income from being taxed in both countries Asian Investment Gateway: Facilitates investment flows from Singapore and Southeast Asia Tax Certainty: Clear rules on taxing rights for cross-border transactions

Current Status

Rollout Stage: Signed/Under implementation Coverage: Nigeria and Singapore Administering Bodies: FIRS and Inland Revenue Authority of Singapore

How to Access

Taxpayers can claim treaty benefits through their tax filings.

Important Terms

Reduced withholding tax rates on dividends, interest, and royalties Exchange of information provisions for anti-avoidance

Impact & Metrics

Opens investment channels between Nigeria and one of Asia's leading financial and commercial hubs.

Official Resources

Website: firs.gov.ng Contact: Federal Inland Revenue Service, Abuja

Legal Framework

Concluded under Nigeria's powers to enter bilateral tax treaties under the executive authority of Section 5 of the 1999 Constitution (as amended) and domesticated through the Finance Acts. The OECD Model Tax Convention and UN Model Double Taxation Convention provide the template. Operates alongside the Companies Income Tax Act (CITA), the Personal Income Tax Act (PITA), and the Federal Inland Revenue Service (Establishment) Act.