Angola and Nigeria began income tax treaty negotiations in Abuja on 22 September, with the talks aimed at attracting investment and strengthening trade ties.
Angola and Nigeria began negotiations on 22 September in Abuja on an income tax treaty, aimed at attracting investment and strengthening trade ties.
The talks focused on tax rates covering industrial, property and income taxes, based on the United Nations model. Angola’s negotiating team was led by chief negotiator Faustina Neto.
The negotiations were scheduled to continue until 25 September, with plans to draft a Memorandum of Understanding on Double Taxation. Nigeria had recently reformed its Tax and Fiscal Legislation to increase national revenue.
It must go through a process of formal signing and ratification in both jurisdictions before it can enter into force.
