- Buhari seeks to abolish double taxation with Sweden,
- The letter was read on the floor of the senate at the plenary to 15th March, 2016
– The letter was read on the floor of the Senate at the plenary
Read more: https://www.naij.com/764899-read-letter-buhari-sent-senate-today.html
Read more: https://www.naij.com/764899-read-letter-buhari-sent-senate-today.html
– The letter was read on the floor of the Senate at the plenary
Read more: https://www.naij.com/764899-read-letter-buhari-sent-senate-today.html
Read more: https://www.naij.com/764899-read-letter-buhari-sent-senate-today.html
In a letter sent to the Senate by
President Muhammadu Buhari on Tuesday, March 15, sought to abolish double
taxation with three countries namely South Korea, Spain and Sweden. He called
for the transmission of a bill for an Act to provide for the domestication and
enforcement in Nigeria of the avoidance of double taxation agreements between
Nigeria and the three countries.
The letter read in parts: “The
Senate is invited to note that agreements for the avoidance of double taxation
between countries facilitate inter-states trade, economic and business
activities as well as enable prospective investors to know the income tax
obligation in each country and tax incentives available. “They also ensure
stable and reliable tax regimes and improve the cooperation between tax
authorities through exchange of information among others. “Pursuant to above,
the Federal government on Nigeria entered into agreement for the avoidance of
double taxation with the Kingdom of Sweden, Republic of South Korea and Kingdom
of Spain which were duly executed on November 18 2004, November 6 2006 and June
23 2009 respectively after series of negotiations between Nigeria and each of
these countries. “For the agreements to be enforceable in Nigeria, they must be
domesticated in line with the provisions of section 12 (1) of the constitution
of the Federal Republic of Nigeria 1999 (as amended) which states that no
treaty between the federation and any other country shall have the force of law
to the extent that such treaty has been enacted into law by the National
Assembly.
“Bearing in mind the interest of
Nigeria and each of the three countries to these agreements vis a vis the
economic vision of this government, the coming into the force of these
agreements will no doubt facilitate the interchange of direct foreign investment.”
However, three bills were presented on the floor of the senate. The bills
include the whistle blower protection bill 2016, the Nigerian Army Institute of
technology and environmental studies bill 2016 and National roads fund bill
2016. Other bills presented include the Public officers protection CAP P41 laws
of the Federation of Nigeria, 2004 act (amendment) bill 2016 and Federal Road
Safety Corps Act no.22, 2007 amendment bill 2016.
In a letter sent to the
Senate by President Muhammadu Buhari on Tuesday, March 15, sought to
abolish double taxation with three countries namely South Korea, Spain
and Sweden.
He called for the transmission of a bill for an Act to provide for the
domestication and enforcement in Nigeria of the avoidance of double
taxation agreements between Nigeria and the three countries.
READ ALSO: Why Nigerian Churches Should Pay Taxes
The letter read in parts: “The Senate is invited to note that agreements
for the avoidance of double taxation between countries facilitate
inter-states trade, economic and business activities as well as enable
prospective investors to know the income tax obligation in each country
and tax incentives available.
“They also ensure stable and reliable tax regimes and improve the
cooperation between tax authorities through exchange of information
among others.
“Pursuant to above, the Federal government on Nigeria entered into
agreement for the avoidance of double taxation with the Kingdom of
Sweden, Republic of South Korea and Kingdom of Spain which were duly
executed on November 18 2004, November 6 2006 and June 23 2009
respectively after series of negotiations between Nigeria and each of
these countries.
“For the agreements to be enforceable in Nigeria, they must be
domesticated in line with the provisions of section 12 (1) of the
constitution of the Federal Republic of Nigeria 1999 (as amended) which
states that no treaty between the federation and any other country shall
have the force of law to the extent that such treaty has been enacted
into law by the National Assembly.
READ ALSO: Nigerians Discuss Imposing Tax on Nigerian Religious Bodies
“Bearing in mind the interest of Nigeria and each of the three countries
to these agreements vis a vis the economic vision of this government,
the coming into the force of these agreements will no doubt facilitate
the interchange of direct foreign investment.”
However, three bills were presented on the floor of the senate. The
bills include the whistle blower protection bill 2016, the Nigerian Army
Institute of technology and environmental studies bill 2016 and
National roads fund bill 2016.
Other bills presented include the Public officers protection CAP P41
laws of the Federation of Nigeria, 2004 act (amendment) bill 2016 and
Federal Road Safety Corps Act no.22, 2007 amendment bill 2016.
Read more: https://www.naij.com/764899-read-letter-buhari-sent-senate-today.html
Read more: https://www.naij.com/764899-read-letter-buhari-sent-senate-today.html
In a letter sent to the
Senate by President Muhammadu Buhari on Tuesday, March 15, sought to
abolish double taxation with three countries namely South Korea, Spain
and Sweden.
He called for the transmission of a bill for an Act to provide for the
domestication and enforcement in Nigeria of the avoidance of double
taxation agreements between Nigeria and the three countries.
READ ALSO: Why Nigerian Churches Should Pay Taxes
The letter read in parts: “The Senate is invited to note that agreements
for the avoidance of double taxation between countries facilitate
inter-states trade, economic and business activities as well as enable
prospective investors to know the income tax obligation in each country
and tax incentives available.
“They also ensure stable and reliable tax regimes and improve the
cooperation between tax authorities through exchange of information
among others.
“Pursuant to above, the Federal government on Nigeria entered into
agreement for the avoidance of double taxation with the Kingdom of
Sweden, Republic of South Korea and Kingdom of Spain which were duly
executed on November 18 2004, November 6 2006 and June 23 2009
respectively after series of negotiations between Nigeria and each of
these countries.
“For the agreements to be enforceable in Nigeria, they must be
domesticated in line with the provisions of section 12 (1) of the
constitution of the Federal Republic of Nigeria 1999 (as amended) which
states that no treaty between the federation and any other country shall
have the force of law to the extent that such treaty has been enacted
into law by the National Assembly.
READ ALSO: Nigerians Discuss Imposing Tax on Nigerian Religious Bodies
“Bearing in mind the interest of Nigeria and each of the three countries
to these agreements vis a vis the economic vision of this government,
the coming into the force of these agreements will no doubt facilitate
the interchange of direct foreign investment.”
However, three bills were presented on the floor of the senate. The
bills include the whistle blower protection bill 2016, the Nigerian Army
Institute of technology and environmental studies bill 2016 and
National roads fund bill 2016.
Other bills presented include the Public officers protection CAP P41
laws of the Federation of Nigeria, 2004 act (amendment) bill 2016 and
Federal Road Safety Corps Act no.22, 2007 amendment bill 2016.
Read more: https://www.naij.com/764899-read-letter-buhari-sent-senate-today.html
Read more: https://www.naij.com/764899-read-letter-buhari-sent-senate-today.html
No comments:
Post a Comment