Nigeria and Singapore reach deal to end double taxation

Nigeria has reached a bilateral agreement with Singapore to end double taxation and prevent tax evasion on income and capital benefits.

Finance minister, Kemi Adeosun, says the agreement will facilitate more trade between the two countries and ensure that enterprises aren’t taxed twice on income or profits. Nigeria has also announced a bilateral air service agreement with Qatar and Singapore. The deal will ease the movement of goods and passengers among the three nations.

The agreements will come to effect after being ratified by Parliament.