Double Taxation Agreement Uk Nigeria

Our specialized tax databases allow us to provide current and historical tax rates, comparative tables and country surveys. We have recent summaries of the most important facts, as well as detailed analyses of the tax system in countries around the world that cover corporate taxation, individual taxation, companies and investments. Worldwide, domicile and source taxation are two principles that advance the taxation of corporate actors in international markets/economies. Therefore, an inevitable risk for multinational enterprises that have cross-border investments/transactions is double taxation. The search for new markets with the best margins clearly implies that multinationals will continue to invest in different economies outside their country or country of origin. This makes double taxation a clear and present risk for these companies. If you come to the UK and have UK work income that is taxed in your home country, you normally have to pay UK taxes. Your home country should give you double tax relief by giving a credit for UK taxes paid. However, if you are established in a country with which the UK has a double taxation treaty, you may be entitled to an exemption from UK tax if you spend less than 183 days in the UK and have an employer outside the UK. There are provisions that protect nationals and businesses of one country against discriminatory taxes in the other country (Article 23) and consultation and exchange of information between the competent authorities of the two countries (Articles 24 and 25). (a) the agreements listed in this Regulation have been concluded with the Government of the Federal Republic of Nigeria in order to allow for an exemption from double taxation in respect of income tax, corporation tax or capital gains tax and taxes of a similar nature imposed by Nigerian law; The Double Taxation Convention entered into force on 27 December 1987. Nigeria must strategically exploit its status as the world`s 26th largest economy and Africa`s largest economically, proactively using all potentials, promises and prospects on the continent and around the world through meaningful economic partnerships, enshrined in double taxation agreements. You will probably need to seek professional advice if you are in a situation of double taxation.

To find an advisor, you will find help on our website. Under UK rules, it is not established, so in the UK it is taxable only with its income in the UK. .